Money managers under the microscope
Interesting to see two fund firms still winning new business, in spite of recent market turbulence.
Both Polar Capital and BlueBay reported roughly $300 mln of net inflows in the last quarter, showing that despite a sharp sell-off in markets, there is still demand out there.
However, BlueBay’s figures show demand could be slowing down rapidly — the inflows are less than a tenth of the levels seen in each of the past four quarters.
Industry data for Q2 will give us a much better picture of how the industry is faring. In the meantime the message seems to be that clients are still buying funds but they’re getting nervous.