HK suffers worst monthly outflow since '08
The fund industry lost a net $1 billion in December, with global, high-yield and emerging market bond funds hit. But balanced funds shone, while equity funds also picked up.
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Hong Kong’s funds industry suffered $1 billion in net outflows in December led by bond funds, its highest monthly decline since the 2008 global financial crisis. This was driven more by a slowdown in gross sales than surge in redemptions.
The city saw a month-on-month drop in gross fund sales of 46% to $3 billion in December, according to newly released Hong Kong Investment Funds Association (HKIFA) data. It witnessed redemptions of $4 billion, down 22% on November.
While for th…
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