Mutual Funds: Market Research Report
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The global outlook series on Mutual Funds provides statistical anecdotes, market briefs, and concise summaries of research findings.
The report offers an aerial view of the global mutual funds industry, identifies major short to medium term market challenges, and growth drivers.
Market discussions in the report are punctuated with a number of fact-rich market data tables.
Regional markets elaborated upon include United States, Canada, Japan, Finland, France, Italy, Luxembourg, Norway, China, Hong Kong, India, South Korea, Philippines, Columbia, Mexico and UAE among others.
Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of 574 companies worldwide.
The report offers an aerial view of the global mutual funds industry, identifies major short to medium term market challenges, and growth drivers.
Market discussions in the report are punctuated with a number of fact-rich market data tables.
Regional markets elaborated upon include United States, Canada, Japan, Finland, France, Italy, Luxembourg, Norway, China, Hong Kong, India, South Korea, Philippines, Columbia, Mexico and UAE among others.
Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of 574 companies worldwide.
1.INDUSTRY OVERVIEW
A Synopsis
Global Recession Wipes Substantial Wealth off Mutual Funds
Money Market Mutual Funds Witness Growth During Downturn
Market Outlook
2.MARKET TRENDS
Distribution Channel – An Indicator of Market State
Poor Gains Despite Robust Economic Performance
Open-Architecture System Becoming a Norm in the Industry
Focus Shifting to Retail Investors
Packaged Solutions Gaining Prominence
Increase in Risk Appetite Surges Demand for Non-Traditional Products
Focusing on Long-Term Growth Strategy
Emerging Market Funds On a Growth Trajectory
3.PRODUCT OVERVIEW
Mutual Funds
Types of Mutual Funds
Equity Funds
Bond Funds
Hybrid or Balanced Funds
Money Market Funds
Fund of Funds
4.PRODUCT/SERVICE LAUNCHES
5.MERGERS AND ACQUISITIONS
6.STRATEGIC CORPORATE DEVELOPMENTS
A REGIONAL PERSPECTIVE
1.THE UNITED STATES
Downturn Plummets Mutual Fund Assets
Money Market Funds – The Savior During Crisis
Number of Registered Investment Companies On the Rise
Individual Accounts Lead the Fray
Institutional Investors Increasingly Relying on Mutual Funds
Large AMCs to Continue Dominance in the Market
Tracking the Demographic Pattern
A Historical Perspective
2.CANADA
Market Overview
Market Shows Signs of Recovery
A Review of the Recent Past
Historical Perspective
3.JAPAN
A Peek into the Past
4.EUROPE
Industry Overview
Key Statistics
Leading European Mutual Fund Managers (2011*): Ranked by AUM
4A.FINLAND
Recent Past Market Scenario
4B.FRANCE
Recent Past Scenario
Regulatory Reforms
Structure of Mutual Funds Market
4C.ITALY
Market Overview
Recent Past Statistics
Competitive Scenario
4D.LUXEMBOURG
Recent Past Market Scenario
Fund Managers Face Significant Challenges
4E.NORWAY
A Recent Past Perspective
4F.RUSSIA
Market Overview
5.ASIA-PACIFIC
Industry Overview
5A.CHINA
Market Overview
Regulatory Amendments – A Step Towards Liberalizing Norms
Recent Past Scenario
5B.HONG KONG
Market Overview
5C.INDIA
Market Overview
Factors Driving Growth of Mutual Funds Industry
Investor Profile
Distribution Channels Vary for Domestic and Foreign Players
Recession Slays Investor Confidence
Recent Slump Presses Need for Further Improvement in Industry Functioning
Regulatory Regime
SEBI Abolishes Entry Load
QFIs Gain Permit to Invest in Mutual Funds
SEBI Relaxes Mutual Fund Merger Norms
A Peek into Select Regulatory Amendments
Market Trends
Mutual Funds Emerge as Preferred Investment Alternative for Investors
Gilt Funds and ETFs Gain Popularity
Large-Cap Equity Funds Exhibit Poor Performance
Global Financial Powerhouses Vying for a Share
Outsourcing Gaining Prominence
Technological Advancements Drive Market Growth
New Product Introductions to Gain Momentum
Competitive Scenario
Key Statistics
5D.INDONESIA
Regulatory Restrictions Gnawing Growth Prospects
5E.SOUTH KOREA
Market Overview
Regulatory Changes in the Past
5F.THE PHILIPPINES
Market Overview
Restraining Forces Check Market Growth
6.LATIN AMERICA
Industry Overview
6A.COLOMBIA
Market Overview
6B.MEXICO
Recent Past Scenario
Market Trips Amid Global Financial Meltdown
Regulatory Supervision
7.THE MIDDLE EAST
7A.ISRAEL
A Peek into the Past
7B.UNITED ARAB EMIRATES
Lacks Favorable Regulatory Environment
Global Directory
A Synopsis
Table 1. World Mutual Fund Market (2011 QI): Percentage Breakdown of Assets by Fund Class- Equity Funds, Bond Funds Money Market Funds, Mixed/Balanced Funds and Others
Table 2. Global Mutual Fund Industry (2010): AUM as a Percentage Share of GDP- Breakdown by Country- US, France, Brazil and India
Global Recession Wipes Substantial Wealth off Mutual Funds
Table 3. Global Mutual Funds Market (2007 & 2008): Breakdown of Assets Under Management in US$ Billion by Fund Class – Equity Funds, Money Market Funds, Bond Funds, Mixed/Balanced Funds, and Others
Money Market Mutual Funds Witness Growth During Downturn
Table 4. Global Mutual Fund Market (2009Q4, 2010Q4 & 2011Q1): Inflows/Outflows by Asset Class in US$ Billion
Market Outlook
Table 5. World Recent Past, Current & Future Analysis for Mutual Funds by Geographic Region - US, Canada, Europe, Asia-Pacific, Latin America and Rest of World Markets Independently Analyzed with Assets Under Management (AUM) in US$ Billion for Years 2010 through 2015
Table 6. World 5-Year Perspective for Mutual Funds by Geographic Region – Percentage Breakdown of Assets Under Management (AUM) Value for US, Canada, Europe, Asia-Pacific, Latin America and Rest of World Markets for Years 2011 and 2015
2.MARKET TRENDS
Distribution Channel – An Indicator of Market State
Poor Gains Despite Robust Economic Performance
Open-Architecture System Becoming a Norm in the Industry
Focus Shifting to Retail Investors
Packaged Solutions Gaining Prominence
Increase in Risk Appetite Surges Demand for Non-Traditional Products
Focusing on Long-Term Growth Strategy
Emerging Market Funds On a Growth Trajectory
Table 7. US Investment in Foreign Mutual Funds (2009 & 2010): Percentage Breakdown by Net Worth of Investors- Category 1 ($5 million to $25 million), Category 2 ($1 million to $5 million) and Category 3 ($100,000 to $1 million)
3.PRODUCT OVERVIEW
Mutual Funds
Types of Mutual Funds
Equity Funds
Bond Funds
Hybrid or Balanced Funds
Money Market Funds
Fund of Funds
4.PRODUCT/SERVICE LAUNCHES
5.MERGERS AND ACQUISITIONS
6.STRATEGIC CORPORATE DEVELOPMENTS
A REGIONAL PERSPECTIVE
1.THE UNITED STATES
Downturn Plummets Mutual Fund Assets
Table 8. Mutual Funds Market in the US (2010): Percentage Share of Assets Under Management by Fund Class – Equity Funds, Money Market Funds, Bond Funds and Hybrid Funds
Money Market Funds – The Savior During Crisis
Table 9. Portfolio of US Investment Companies (2011): Percentage Breakdown of Investment by Funds- Bond, Stock & Hybrid Funds, Money market Funds, Exchange-Traded Funds, Closed-End Funds and Unit Investment Trusts
Table 10. US Long-Term Mutual Fund Assets (2011): Percentage Breakdown of Investment by Funds- Domestic Equity Funds, Bond Funds, International Equity Funds and Hybrid Funds
Number of Registered Investment Companies On the Rise
Table 11. A Recent Past Perspective of Mutual Funds Market in the US (2004-2008): Number of Registered Investment Companies by Year
Individual Accounts Lead the Fray
Table 12. Mutual Funds Market in the US (2010): Percentage Breakdown of Net Mutual Fund Assets by Account Type – Individual and Institutional
Institutional Investors Increasingly Relying on Mutual Funds
Large AMCs to Continue Dominance in the Market
Table 13. Mutual Funds Market in the US (2011): Percentage Breakdown of Households That Own Mutual Fund Ranked by Source
Table 14. Mutual Funds Market in the US (2011): Percentage Breakdown by Purchase Channel – Inside Employer-Sponsored Retirement Plans; and Outside Employer-Sponsored Retirement Plans [Sales Force (Full-Service Broker, Independent Financial Planner, Bank or Savings Institution Representative, Insurance Agent, and Accountant); and Direct Market (Mutual Fund Company Directly, and Discount Broker)
Table 15. An Insight into Select Financial Objective for Investing in Mutual Funds (2011)
Tracking the Demographic Pattern
Table 16. Mutual Funds Market in the US (2011): Percentage Breakdown of Mutual Funds by Type – Households and Individual Investors
Table 17. Mutual Funds Market in the US (2011): Percentage Breakdown of Mutual Fund Ownership Based on Household Income – Less than US$25,000; US$25,000 to US$49, 999; US$50,000 to US$99,999; US$100, 000 to US$199,999; and US$200, 000 or more
Table 18. Mutual Funds Market in the US (2011): Percentage Breakdown of Households that Own Mutual Funds by Age Group – 65 Years +, 55-64 Years, 54-45 Years, 44-35 Years, and Below 35 years
Table 19. Mutual Funds Market in the US (2011): Percentage Breakdown of Households that Own Mutual Funds by Generation – Baby Boom, Gen-Xers & Yers, and Silent and GI
Table 20. Mutual Funds Market in the US (2011): Percentage Breakdown of Households Mutual Fund Assets by Generation - Baby Boom Generation, Silent and GI Generation and Gen Xers & Yers
A Historical Perspective
2.CANADA
Market Overview
Table 21. Leading Mutual Fund Managers in Canada (2011): Percentage Breakdown of Assets Under Management for RBC Asset Management and Phillips Hager & North, IGM Financial, TD Asset Management, CIBC Asset Management, Fidelity Investments Canada ULC, BMO Financial Group, Invesco Trimark, AGF Funds, Franklin Templeton, Dynamic Funds, and Others
Market Shows Signs of Recovery
Table 22. Mutual Funds Market in Canada (2011): Breakdown of Assets Under Management (in US$ Billion) by Month
A Review of the Recent Past
Historical Perspective
3.JAPAN
A Peek into the Past
Table 23. Mutual Funds Market in Japan (2002 & 2007): Percentage Breakdown of Assets Under Management by Fund Class – Stock Funds, Bond Funds, and Money Market Funds
Table 24. Mutual Funds Market in Japan (2010): Percentage Breakdown of Assets Under Management by Type of Parent Company – Securities Firms, Banks, Foreign Firms, Insurance Firms, and Independent Firms
4.EUROPE
Industry Overview
Table 25. European Recent Past, Current & Future Analysis for Mutual Funds by Geographic Region – France, Germany, Italy, UK, Spain, Ireland, Luxembourg and Rest of Europe Independently Analyzed with Assets Under Management (AUM) in US$ Billion for Years 2010 through 2015
Table 26. European 5-Year Perspective for Mutual Funds by Geographic Region – Percentage Breakdown of Assets Under Management (AUM) Value for France, Germany, Italy, UK, Spain, Ireland, Luxembourg and Rest of Europe for Years 2011 and 2015
Key Statistics
Table 27. European Long-Term Mutual Fund AUM (2011): Percentage Breakdown by Asset Class- Equities, Bonds, Balanced Funds and Others
Table 28. The UK Mutual Funds Market ((1H-2011): Breakdown of Sales of Funds Under Management- Fund of Funds, Tracker Funds, Ethical Funds and All Funds in £ Billion
Leading European Mutual Fund Managers (2011*): Ranked by AUM
4A.FINLAND
Recent Past Market Scenario
Table 29. Leading Fund Management Companies in Finland (2011): Percentage Breakdown of Net Asset Value of Managed Mutual Fund for Nordea Investment Fund Company Finland Ltd.,OP Fund Management Company Ltd., Sampo Fund Management Ltd., SEB Gyllenberg Fund Management Company Ltd., Evli Fund Management Company Ltd., Aktia Fund Management Company Ltd., Handelsbanken Mutual Fund Company Ltd., Tapiola Asset Management Ltd., FIM Asset Management Ltd., Alfred Berg Funds Ltd., and Others
4B.FRANCE
Recent Past Scenario
Regulatory Reforms
Structure of Mutual Funds Market
4C.ITALY
Market Overview
Recent Past Statistics
Competitive Scenario
Table 30. Leading Mutual Funds Groups in Italy (2008): Percentage Breakdown of Assets Under Management for Intesa Sanpaolo, Pioneer Investment, Arca, UBI Banca, Cridit Agricole, and Others
Table 31. Leading Mutual Fund Groups in Italy (2008): Percentage Breakdown of Number of Registered Mutual Funds for Intesa Sanpaolo, Cridit Agricole, Pioneer Investment, BNP Paribas, Gruppo Banca Popolare, Mediolanum, UBI Banca, Assicurazioni Generali, Monte Paschi di Siena, Arca, and Others
Table 32. Mutual Funds Market in Italy (2008): Percentage Breakdown of Number of Registered Mutual Funds by Fund Class – Equity Funds, Bond Funds, Money Market Funds, Hedge Funds, Balanced Funds, and Flexible Funds
4D.LUXEMBOURG
Recent Past Market Scenario
Fund Managers Face Significant Challenges
4E.NORWAY
A Recent Past Perspective
Table 33. Mutual Funds Market in Norway (2007 & 2008): Percentage Breakdown of Mutual Fund Shares Capital by Fund Class – Equity Funds, Hybrid Funds, Bond Funds, and Money Market Funds
Table 34. Mutual Funds Market in Norway (2010): Percentage Breakdown of Mutual Fund Capital by Sector- Government, Financial Corporations, Non-Financial Corporations, Households and Others
4F.RUSSIA
Market Overview
5.ASIA-PACIFIC
Industry Overview
5A.CHINA
Market Overview
Regulatory Amendments – A Step Towards Liberalizing Norms
Recent Past Scenario
Table 35. Leading Fund Managers in China (2008): Percentage Breakdown of Net Assets Under Management for China Asset Management, Boshi Fund Management, Harvest Fund Management, China Southern Fund Management, E Fund Management, Da Cheng Fund Management, GF Fund Management, Huaan Fund Management, China International Fund Management, Invesco Great Wall Fund Management, and Others
Table 36. Leading Fund Managers in China (2008): Percentage Breakdown of Number of Funds for China Asset Management, Boshi Fund Management, China Southern Fund Management, Da Cheng Fund Management, E Fund Management, Harvest Fund Management, GF Fund Management, Huaan Fund Management, China International Fund Management, Invesco Great Wall Fund Management, and Others
5B.HONG KONG
Market Overview
Table 37. Mutual Funds Market in Hong Kong (2008): Percentage Breakdown of Number of Authorized Mutual Funds by Fund Class – Equity Funds, Bond Funds, Guaranteed Funds, Diversified Funds, Fund of Funds, Index Funds, Money Market Funds, Hedge Funds, and Others
5C.INDIA
Market Overview
Table 38. Indian Mutual Funds Industry - Per Capita Assets Under Management (in US$) for Singapore, Brazil, UK and India
Factors Driving Growth of Mutual Funds Industry
Investor Profile
Distribution Channels Vary for Domestic and Foreign Players
Recession Slays Investor Confidence
Recent Slump Presses Need for Further Improvement in Industry Functioning
Regulatory Regime
SEBI Abolishes Entry Load
QFIs Gain Permit to Invest in Mutual Funds
SEBI Relaxes Mutual Fund Merger Norms
A Peek into Select Regulatory Amendments
Market Trends
Mutual Funds Emerge as Preferred Investment Alternative for Investors
Gilt Funds and ETFs Gain Popularity
Large-Cap Equity Funds Exhibit Poor Performance
Global Financial Powerhouses Vying for a Share
Outsourcing Gaining Prominence
Technological Advancements Drive Market Growth
New Product Introductions to Gain Momentum
Competitive Scenario
Key Statistics
Table 39. Asset Management Market in India (2008): Percentage Breakdown of Household Savings by Category – Bank Deposits, Government Instruments, Insurance Funds, Provident and Pension Funds, Currency, and Mutual Funds
Table 40. Indian Mutual Funds Market (as on March 2010 & as on March 2011): Percentage Breakdown of Assets Under Management by Schemes – Income, Equity, Liquid. ELSS, Balanced and Others
Table 41. Mutual Funds Market in India (2011): Percentage Breakdown of Average Assets Under Management by Asset Management Company – Reliance Mutual Fund, HDFC Mutual Fund, UTI Mutual Fund, ICICI Prudential Mutual Fund, Birla Mutual Fund, SBI Mutual Fund, Franklin Templeton Investments, Tata Mutual Fund, Kotak Mahindra Mutual Fund, DSP BlackRock Mutual Fund, and Others
Table 42. Indian Mutual Funds Market (2011): Breakdown of Leading Balanced Funds (in Rs Crore) by Scheme Name – HDFC Prudence Fund-Growth, DSP BlackRock Balanced Fund-Growth, SBI Magnum Balanced Fund-Growth, FT India Balanced Fund-Growth, ING Balanced Fund-Growth, Escorts Opportunities Fund-Growth, HDFC Balanced Fund-Growth, Kotak Balance, PRINCIPAL Balanced Fund-Growth and Sundaram Balanced Fund-Growth
Table 43. Mutual Fund Industry in India (2011): Sale and Redemptions of Open-End, Close-End and Interval Funds in Rs Crore
Table 44. Liquid/Money Mutual Funds Market in India (2011): Percentage Breakdown of Assets Under Management and Number of Folios by Investor Type – Corporates, Financial Institutions/Banks, High Networth Individuals, FIIs, and Retail
Table 45. Gilt Mutual Funds Market in India (2011): Percentage Breakdown of Assets Under Management and Number of Folios by Investor Type – Corporates, High Networth Individuals, Retail, and Financial Institutions/Banks
Table 46. Debt Class Mutual Funds Market in India (2011): Percentage Breakdown of Assets Under Management and Number of Folios by Investor Type – Corporates, High Networth Individuals, Retail, Financial Institutions/Banks, and FIIs
Table 47. Equity Class Mutual Funds Market in India (2011): Percentage Breakdown of Assets Under Management and Number of Folios by Investor Type – Retail, High Networth Individuals, Corporates, Financial Institutions/Banks, and FIIs
Table 48. Balanced Mutual Funds Market in India (2011): Percentage Breakdown of Assets Under Management and Number of Folios by Investor Type – Retail, High Networth Individuals, Corporates, Financial Institutions/Banks, and FIIs
Table 49. Gold Exchange Traded Funds Market in India (2011): Percentage Breakdown of Assets Under Management and Number of Folios by Investor Type – Corporates, Financial Institutions/Banks, FIIs, High Networth Individuals, and Retail
Table 50. Exchange Traded Funds Market in India (2011): Percentage Breakdown of Assets Under Management and Number of Folios by Investor Type – High Networth Individuals, Corporates, FIIs, Retail, and Financial Institutions/Banks
Table 51. Fund of Funds Market in India (2011): Percentage Breakdown of Assets Under Management and Number of Folios by Investor Type – High Networth Individuals, Retail, Corporates, Financial Institutions/ Banks, and FIIs
5D.INDONESIA
Regulatory Restrictions Gnawing Growth Prospects
5E.SOUTH KOREA
Market Overview
Regulatory Changes in the Past
5F.THE PHILIPPINES
Market Overview
Restraining Forces Check Market Growth
6.LATIN AMERICA
Industry Overview
6A.COLOMBIA
Market Overview
6B.MEXICO
Recent Past Scenario
Market Trips Amid Global Financial Meltdown
Table 52. Mutual Funds Market in Mexico (2010): Percentage Breakdown of Assets Under Management by Fund Class – Government Bonds, Bank Debts, Equities, and Others
Table 53. Mutual Funds Market in Mexico (2010): Percentage Breakdown of Assets Under Management by Category – Financial Sector, Firms Linked with Stockbrokerages, Independent Mutual Fund Investors, and Firms Linked with Credit Organizations
Regulatory Supervision
7.THE MIDDLE EAST
7A.ISRAEL
A Peek into the Past
Table 54. Number of Active Mutual Funds in Israel (2006-2011)
7B.UNITED ARAB EMIRATES
Lacks Favorable Regulatory Environment
Global Directory