EUROPE - Bond fund assets rose by 33.4% in the six months to the end of May, according to a new report from Fitzrovia International.

It said that bond fund assets of the largest 30 companies offering funds domiciled in Luxembourg and Dublin rose by 33.4%, 57.2 billion dollars (euros), in the period.

And they rose by 8.1%, 17.2 billion dollars, over the one-month period.

Fitzrovia said fund assets rose an overall 15.6% over six months, taking total assets to 859.6 billion dollars. It said the figures include a six percent rise in May.

Active equity funds' share of the total edged up to 21.9% from 21.5%; cash funds decreased slightly to 29.9% from 30.7%.

Fitzrovia said that UBS remained the top fund promoter with 101.3 billion dollars, a rise of 11.8% over six months. J P Morgan Fleming was second with a 0.3% rise while Deutsche Bank/DWS rose 10.7% and is on third slot.

Biggest riser in the top ten is Unicredito’s Pioneer Investments, which has show a six-month rise of 45.3% taking it to 47.4 billion dollars and fifth place.