Globally, long-term mutual funds attracted nearly US$29 billion in net flows during May. Bond products led all major asset classes by gathering approximately US$38 billion, followed by 'other' and mixed vehicles with nearly US$30 billion collectively. On the contrary, equity funds suffered US$40 billion in net redemptions, mostly from the U.S.
At the regional level, Local Asia (excluding existing funds in China, which report assets on a quarterly basis) attracted the greatest amount of new investor money totalling US$21 billion in net contributions. Canada, Local Europe, and Cross-border regions added about US$14 billion combined. Meanwhile Latin America experienced flat net flows and the U.S. saw outflows of around US$5 billion for the month.