During the second quarter of 2016, the number of multi-asset funds available increased by 21 funds (launches minus liquidations and mergers). All other categories saw a decline in the number of registered funds, continuing a multi-year trend of consolidation.
Multi-asset funds, however, are bucking this trend, and now even outnumber bond funds. Some 28% of the 31,815 mutual funds available in Europe were multi-asset funds at the end of June, while bond funds have a share of only 21%.
Equity funds still account for the biggest share of the fund market (37%), and also hold the largest amount of assets of any fund category collectively (€3.1trn). Bond funds take second spot with €2,3trn in total assets under management. Even though Europe’s largest fund, the Standard Life GARS fund with close to €50bn in assets under management, falls into the multi-asset category, multi-asset funds tend to be smaller than single-asset equity and bond funds: though they have been growing assets quickly, multi-asset funds collectively have ‘only’ €1.3trn in assets under management.