Russia and Brazil funds top the tables in Hong Kong
Talk of lower taxes for oil companies boosts Russian funds, while a credit-rating upgrade helps Brazil portfolios, says Lipper.
Mutual funds registered for sale in Hong Kong posted an average return of 0.70% in May, extending their average gain of 3.69% in April, according to Lipper data. Commodities funds, which posted an average return of 2.07%, once again outperformed all other asset types. Most commodity prices posted gains, with crude oil prices delivering the strongest increase in May. Crude oil prices rallied 12.24% for the month on speculation of supply constraints in the second half of 2008. Soybeans…
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