Sector gross inflows drop 6pc in January

PUBLISHED : Tuesday, 13 March, 2001, 12:00am
UPDATED : Tuesday, 13 March, 2001, 12:00am
 

The unit trust sector saw gross inflows of US$496.58 million in January, a 6 per cent decline from December, according to the Hong Kong Investment Funds Association.


Despite the decline, US$19.58 million in net inflows were registered in January.


Cash funds and sector funds contributed US$81.06 million and US$79.46 million respectively. They each represented 16 per cent of the sector's total.


Bond funds recorded the heaviest net outflows in the month at US$54.17 million.


Cash funds followed, at US$21.93 million.


Asian funds contributed 27.7 per cent, or US$137.63 million, of the Asian sectors' gross sales.


This compared with 18.6 per cent, or US$97.7 million, in December.


In the month, Asian funds registered net inflows of US$36.36 million against outflows of US$9.14 million in December.


Single Asian country funds, Japanese equities funds and Asia-Pacific regional (excluding Japan but including Hong Kong) funds, showed improvement in sales.


However, Hong Kong equity funds suffered hefty decreases in gross and net inflows in January.


Gross inflows shrank 45 per cent to US$23.77 million from the previous month and net inflows plunged 93.37 per cent to US$1.77 million.


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