Swiss asset manager Partners Group reported stronger-than-expected inflows in the first half, but indicated that outflows from some open-ended funds are likely to persist. First-half inflows totaled 16 billion dollars, exceeding Bank Vontobel's estimate of 14.5 billion dollars, with 26 percent going into open-ended funds. Meanwhile, redemptions from open-ended funds came in at 3.8 billion dollars, in line with expectations, resulting in a slight net inflow. Partners Group expects the current redemption trend to continue for several quarters, potentially slowing asset growth by 1 to 2 percent over the next 18 months. In a pessimistic scenario, outflows from these funds could reach 10 to 20 billion dollars.
Partners Group Holding AGPartners Group expects continued outflows from open-ended funds, potentially slowing asset growth and reducing fee income.
Vontobel Holding