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FundIndustry
May 02, 2012 |
Tom Roseen, Ed Moisson
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SRRI European Overview
The first analysis of Synthetic Risk and Reward Indicators (SRRIs) across the European funds industry. Lipper’s report looks at the proportion of European funds in the different risk bandings overall and by sector, as well as a closer look at funds in the UK.
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FundIndustry
Feb 28, 2012 |
Ed Moisson
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European Fund Market Review
Lipper's annual review of the European funds industry provides over 30 pages packed with sales and assets data on activity in different markets, as well as a look at which groups and products prospered in 2011. The report includes unique data on cross-border activity, as well as an introduction that discusses not only current themes but also trends in the industry over the past decade.
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FundIndustry
Feb 01, 2012 |
Matthew Lemieux, Dunny Moonesawmy
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EMEA Research Insights - 2012
To coincide with the start of this year's series of Lipper Fund Awards events, this report offers a compilation of articles written by Lipper's EMEA Research team, originally commissioned by Reuters News. The articles range from the Arab Spring to Abba, ETFs to equine investing, and from SRI to the KIID.
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FundIndustry
Nov 14, 2011 |
Sasha Franger
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Lipper 2011 Subadvised Funds Research Series - Part Two - Performance
Part 1 of our "Lipper 2011 Subadvisor Series" found that subadvised funds are slightly more expensive than funds that are not subadvised, and the portion of the management fee retained by advisors varies greatly among subadvisor relationships. Renewed interest in the expenses and fees of subadvised funds is the result of recent litigation. Part 2 continues the Lipper Subadvisor Series by addressing subadvisor performance, namely whether subadvised funds perform better than funds that are not subadvised. In addition, we look at the top subadvisors and subadvised funds by assets, as well as clones, a term described in detail later.
KEY POINTS:
1. Subadvised funds and funds that are not subadvised have nearly identical median performance for one-, three-, five-, and ten-year annualized total return figures.
2. The top ten subadvisors based on AUM have high Lipper Leaders scores.
3. The top ten subadvised funds based on AUM have high Lipper Leader scores.
4. When comparing subadvised and advised clones, the subadvised fund performs better than the advised fund, but the relationship reverses in some cases when expenses are added back.
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FundIndustry
Oct 11, 2011 |
Sasha Franger
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Lipper 2011 - Walking the Walk - ETF Performance
Exchange-traded funds (ETFs) are receiving a tremendous amount of attention from investors, the media, and fund companies alike. This attention is warranted given the rapid growth in the number of ETFs in the past five years and their unique structure compared to open-end funds. Unlike actively managed funds, ETFs hold an underlying basket of securities designed to track a specified index. Since the index serves as the investment focal point, the fund management company and the board of directors must examine how the ETF is performing in relation to its stated benchmark, as well as its performance relative to peers.
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FundIndustry
Oct 10, 2011 |
Ed Moisson
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"Time May Change Me"
This unique report explores the extent to which mutual funds in the UK and Europe (cross-border) have changed their annual management fees over the past ten years, and the size of such changes.
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FundIndustry
Sep 07, 2011 |
Sasha Franger
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Lipper's 2011 Subadvisor Research Series--Part 1: Subadvisor Fees & Expenses
Subadvised funds, or funds whose portfolios are managed by an outside investment company, have taken center stage this year in part because of excessive fee lawsuits sought by investors. Generally speaking, these suits allege that the advisors in question maintain excessive fees in relation to the amount of work delegated to the subadvisor. The plaintiffs contend that while almost all fund management duties of the advisor are delegated to the subadvisor, in some instances the advisor is retaining over 80% of the total management fee charged. As a result, the plaintiffs argue it is not feasible that the advisory contracts are the result of arm's length bargaining. Due to the increased interest in and scrutiny of subadvised fund expenses and management fees, this paper will examine the fees and expenses of subadvised funds with two main objectives. First, it will discern if the subadvisor fee is an additional fee tacked onto the management fee or if other expenses decrease to compensate for the cost of the subadvisor. Second, the paper will examine how much of the management fee is retained by the advisor and/or administrator. Finally, recommendations regarding 15(c) report content for subadvised mutual funds are made.
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FundIndustry
Jul 04, 2011 |
Ed Moisson
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New launches shed light on distribution in the fund industry
European mutual fund assets under management stood at €3.01 trillion at the end of 2001, rising 81% to €5.45 trn at the end of Q1 2011. Of this latest total, 43% (€2.36 trn) of assets are managed in funds that have been launched within the previous nine years and thus account for 97% of the industry growth. This report examines structural and distribution issues related to the level of sales for new product launches compared to sales of funds launched in previous years.
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FundIndustry
Mar 07, 2011 |
Jeff Tjornehoj, Ed Moisson
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The Pressure to Perform
This research into the UK funds industry explores the pressure on fund companies to perform. This also manifests itself as the pressure to justify fees as well as a further knock-on effect — the potential for an overly short-term outlook. The report coincides with Lipper Fund Awards 2011.
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FundIndustry
Sep 01, 2010 |
Dunny Moonesawmy, Sasha Franger
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Money Market Yields and Expenses
Traditionally, money market funds have been a safe vehicle for investors to store money, and a significant part of the economy in terms of generating short-term capital. Recently though, money market yields have been low enough to discourage potential investors. Over the past decade, money market yields have increased with the Federal Funds Rate. In response to the economic downturn, both the Federal Funds Rate and money market yields plummeted. This paper explains this decrease in yields, as well as the change in money market funds' expenses in reaction to the decreasing yields.
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