Bond funds hit historic sales landmark in Hong Kong
Last year saw more bond than equity funds sold to HK retail investors for the first time this century. They accounted for 44.4% of industry sales in 2011, compared with 43.5% for equity.
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Market volatility and risk aversion in the second half of 2011 saw absolute yearly bond fund sales to Hong Kong retail investors overtake equity products for the first time this century.
Gross bond fund sales rose 39% year-on-year to $16.6 billion in 2011, accounting for 44.4% of the retail funds industry’s overall sales, reports the Hong Kong Investment Funds Association (HKIFA). That is the highest level this century and a rise from just 8.4% in 2001 (see chart).
Global bon…
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