Long-term funds in Asia garnered US$30 billion in net flows during November (excluding existing funds in China, which report data on a quarterly basis). Bond funds led contributions at roughly US$19 billion, followed by mixed products with US$6 billion. Equity products took in US$5 billion of net new money, while real estate funds and guaranteed funds added US$0.3 billion and US$0.2 billion, respectively. On the other hand, ‘other’ products experienced a moderate US$0.7 billion in net redemptions for the month.
Bond Asia Pacific, mostly Bond CNY products in China, was the top selling investment category again in November, raising US$20 billion in net flows across all Asian markets. Mixed Flexible funds also attracted US$5.6 billion in net new money. By comparison, Bond Global funds suffered net outflows of about US$1.1 billion during the month.
At the product level, China’s CCB Principal launched three bond funds, CCB Principal HengRui 1 Year Open Bond Fund, CCB Principal HengAn 1 Year Fixed Term Bond Fund and CCB Principal HengYuan 1 Year Open Regular Bond Fund, each accumulating US$3.6 billion in net flows in November. The majority of that new money was reportedly coming from institutional investors, mainly from the firm’s parent company – China Construction Bank.