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Investing September 15, 2010
Asia Mutual Fund Inflows Modest in July
September 15, 2010 (PLANSPONSOR.com) - Net contributions to long-term funds in Asia were modest, at $3.6 billion during July, according to Strategic Insight, an Asset International company.
Reported by Rebecca Moore
Japan garnered $6.6 billion in net flows, with Bond High Yield ($2.3 billion) and Bond Asia Pacific ($2 billion) the leading fund categories.
Korea and India each suffered at least $2 billion in net redemptions. Bond Asia Pacific ($72 million) and Bond Emerging Markets ($22 million) were the only fund categories with net inflows in Korea. In India, the Mixed Conservative fund category took in a net $492 million.
In China, Equity Asia Pacific funds took in nearly $6 billion, besting by far all other fund categories. Net inflows to funds in Taiwan were modest, with the highest inflows into Bond Global funds ($117 million).
Equity Asia Pacific led the inflows in Hong Kong ($572 million), while Bond Asia Pacific led in Singapore ($85 million) and Money Market funds were favored in Thailand ($1.1 billion).
Nomura Global High Yield Bond F(Envmt Crny) M Sttl continued to be the best selling fund in the region, absorbing $1.1 billion in July and $6.2 billion since its launch in April.
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