Flow reversal hits Greater China equity funds
Net redemptions from this category were the highest among all funds in the first six months of the year, finds the HKIFA. EM equity sales also suffered, although EM bonds picked up.
Greater China equity funds suffered $113 million in net redemptions in the first six months of 2011, the highest outflow among all funds covered by the Hong Kong Investment Funds Association (HKIFA).
It represents a sharp reversal of investor preference, given that Greater China equity attracted $822 million of net inflows over the same period last year when it was the most popular equity category.
Sally Wong, chief executive of HKIFA, told a briefing in Hong Kong yesterday that…
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