THE net investment by US fund managers in Hongkong equities is less than the hype suggests, according to data from the Securities Industry Association of the United States.
The figures showed net investment in Hongkong stocks was less than US$5 billion over the past three years.
The report, much of which is based on US Treasury disclosures, put net investment in 1990 at $600 million. This rose to $1.1 billion in 1991 and $2.8 billion last year.
Some broker estimates of net purchases by US investors were in excess of $5 billion.
Gross activity in 1991 was $9.4 billion, which almost doubled last year to $18.17 billion.
Other Asian countries saw an increase in US investor interest with total activity rising from $6.5 billion to $9.5 billion. The respective net totals for the past two years were $1 billion and $1.6 billion.
