HK investors flee Asia equity funds despite stock boom

Retail fund sales in Hong Kong boomed in the first half of the year, driven by strong flows into balanced and bond strategies, but investors ditched equities – especially Asia products – according to figures released this week by the Hong Kong Investment Funds Association (HKIFA). The shift came despite a continued rally in regional stock prices. Why? Stewart Aldcroft, managing director of markets and securities services and senior funds industry adviser at Citi, blamed what he …