Winter redemptions hit record year for HK
Funds in Hong Kong saw $1.1 billion in outflows in December as nervous investors pulled money, but the city still recorded its highest-ever retail sales over the course of last year.
Hong Kong retail funds suffered $1.1 billion in outflows last December, driven by large redemptions that were attributed to investors nervous of global uncertainties.
The net outflows pulled down gross sales data for the last three months of 2014, leading to the worst quarter for fund sales since April-June 2012.
Despite the poor end to the year, the city’s funds industry enjoyed record-high gross sales of $77.7 billion, according to data released yesterday by the Hong Kong Inve…
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