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Monday, December 19, 2011

Fund Launches Are Slightly Up in 2011

News summary by MFWire's editors

The number of U.S. mutual funds ticked up in 2011, reports the Financial Times. The paper sources Lipper data that puts the number of launches at 730 against 360 closings.

The U.S. net number of 370 funds opening in 2011 is up from just 200 in 2010. That year 700 mutual funds launched and 500 closed. Nearly a quarter of the new funds launched in 2011 are exchange-traded funds (ETFs).

"The cost to launch ETPs [exchange-traded products] is relatively small [compared to mutual funds] and the barrier to entry is lower as there are fewer regulatory hurdles," Jeff Tjornehoj, head of Lipper’s Americas research, told the paper.

Tjornehoj added that high-yield investment grade bond funds were again where people most wanted to invest.

Meanwhile, the UCITs IV regime appears to have all but stalled mutual fund product growth in Europe. That market saw 2,426 mutual funds close and merge through October while 2,430 new funds launched, according to Lipper data.

The same trend showed in Asia, where there were about 1,500 launches and a similar number of closings.  

Edited by: Sean Hanna, Editor in Chief

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