However the management they are the same

One of the first things to do when it was decided to purchase of mutual funds or the mutual fund is to check that it has not already or that there is not already the same that those that were poised to buy.

Investment funds are today everywhere and the opening of the market of collective management is that different financial institutions can accommodate identical investment funds in their products. Mean by this that a contract of insurance bundles in an insurance company may very well House investment funds that the Subscriber has its own already housed in his actions (PEA) savings plan.

Are more than half of the PEA not lined fund investment and not shares held live Example: at ING Direct, ING Direct life contract in units of account provides funds "House" such as ING Direct balance, ING Direct CAC 40, ING Direct Selection Europe, but also other houses such as Fidelity Europe or HABs performance funds. If the Subscriber already has in his stock savings plan these last two funds, it is found with duplicates.

A similar offer

The risk of duplicate is great, that a recent phenomenon has emerged. The major banks, which are converted to the portfolios or pretended to convert were almost all adopted the same approach of marketing. They have included in their offer of investment funds mutual funds of the most famous placement, serving them as products of appeal. It is the Fund for independent management companies which, in recent years, have monopolized the first places in the rankings of mutual funds and mutual funds. Much freer movement than managers of large financial institutions, ensconced in the procedures and the management committees which imprison, they often achieved superior performance to those of the large universal banks sicav. These, who were concerned to see their clients leave to open an account in small independent management companies, chose to add to their range of mutual funds or CPF home those of their competitors. Result: it is always the same funds and for cause (their past performance are the most attractive) proposed by the major banks to their customers.

But duplicates may occur again at another level. More and more individuals, employees, hold shares of business investment Fund (CIPF). According the Association française de management (AFG), approximately 10 million employees now hold a savings account. The amount of the assets of these employees rises to 77 billion euros. A large half of this money is placed in shares of the company, the rest being handled any diversified by common investment funds specialized in shares, bonds and cash. Here, the risk is not to be invested via his savings in the same funds than those in which it is part of a plan share savings or a contract of insurance bundles. The products are not the same. However, the management, they are the same.

Collectives of the CIPF indeed merely to implement, in the management of the savings, the same management philosophies or almost, and especially the same management policies and the same allocation of assets in their investment funds marketed in the general public. Better therefore to ensure that there is not under two labels different two funds clones or almost.

Find the parade

The same and the same precaution also applies to people's retirement savings plans (PERP), invested them in mutual funds or mutual funds.

Another still recent phenomenon: development of Fund of funds, investment by definition products composed of several funds. Here again, as recommended by Jacques Tord, Advisor management and administrator of La Boétie heritage, need to pay attention to the composition of the Fund of funds ". Otherwise, as he said, "may find themselves with funds from the same House of management in different funds funds". And he added: "If you think the quality of the management of this House, this is not a problem, but as many know." Not to mention that these duplicates can give a speculative to heritage in stock!

Sometimes the duplicates are even more difficult to track down. The investor who has invested in a Fund of European values will no doubt always that "its" Fund of European values is partly invested in French values. The France is not part of Europe If he subsequently bought a fund invested in values, the diversification of its assets will be may not be as great that he could think. There is a parade. It is to invest when there is interest in Europe, in funds that invest everywhere in Europe except in France. There, diversification will be at the Rendez-vous.