Net Inflows of HK Fund Industry More than Doubled in July

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Last updated at: (Beijing Time) Thursday, September 12, 2002

Net Inflows of HK Fund Industry More than Doubled in July

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The unit trust industry of HongKong registered gross inflows of 1,526.97 million US dollars in July 2002, up 49 percent over the previous month, according to theHong Kong Investment Funds Association Wednesday.

Net inflows reached 696.73 million dollars, more than doubled that of June.

Guaranteed funds continued to lead in both gross and net sales.Gross and net inflows reached 574.09 million dollars and 522.07 million dollars, respectively, accounting for about 38 percent and75 percent of the industry total.

Bond funds continued to attract robust inflows in July and registered aggregate gross inflows of 295.79 million dollars, up 17.3 percent over June.

Equity funds saw an increase in redemption in July by 16 percent to 331.2 million dollars. However, as gross sales also sawa similar increase, the sectors managed to registered marginal netinflows of 3.35 million dollars.

Amongst the 11 equity sectors, Hong Kong equity funds and NorthAmerican equity funds saw the biggest increase in gross sales in July.

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