Fund Births and Deaths of 2015

Last year saw the creation of 172 new funds in the UK and the end of 141 funds as the asset management industry strove to meet investors' needs

Jeremy Beckwith 3 February, 2016 | 8:55AM
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Aberdeen Asset Management was the most active firm of 2015, topping the lists of both new funds and closed funds. Aberdeen launched 21 new funds and closed or merged 28 funds. Their new fund launches encompassed a range of Multi-Asset funds, a global suite of enhanced index equity funds and a slew of bond funds. In November 2014, following its acquisition of the SWIP business from Lloyds Bank, most SWIP branded funds were renamed to become Aberdeen funds. Of the 28 funds closed in 2015, 20 were merged into other Aberdeen funds.

Of the 172 new launches, 75, or 43%, are in one of Morningstar’s Allocation categories, where investments across different asset classes are held. This continues the trend seen in recent years for fund managers to offer such funds rather than single asset-class specific funds. Of the others, 62 are equity funds and 23 are fixed income funds. Within the equity sector, the largest category (30%) is global equity, including global equity income, funds.

Of the fixed income funds, just over half are classified as Diversified, Flexible or Global. Even within asset classes, it appears that fund managers are seeking wider mandates in their newly launched funds.

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Jeremy Beckwith  is Director of Manager Research for Morningstar UK

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