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Institutional support boosts Asia funds in late June as foreigners pull back from Europe

Tue, 01/07/2014 - 09:30

Heading into the final days of the second quarter domestic institutional investors underpinned the biggest weekly inflow recorded by Asia ex-Japan equity funds since late 2Q11 as China’s manufacturing sector continued to regain momentum.

Data from the Eurozone was, however, less supportive and foreign currency denominated redemptions from Europe equity funds jumped to their highest level in over six years.
Overall, the week ending June 25 saw EPFR Global-tracked equity funds collectively post a net outflow of USD580 million, with dividend equity funds experiencing redemptions for the first time since late March, while bond funds took in USD4.74 billion and money market funds USD2 billion.
At the asset class level investors continue to gravitate towards fund groups offering multi-asset exposure. Flows into total return bond funds hit a 60 week high and balanced funds took in over USD1 billion for the 12th time in the 25 weeks year-to-date.
Elsewhere, demand for US inflation protected bond funds is on the rise: they took in fresh money for the fifth straight week, extending their longest inflow streak since 3Q12.

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