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Unit Trust Inflows Plunge in May
The unit trust industry registered gross sales of 514.68 million U.S. dollars in May, down by 43.97 percent from April's inflows of 918.54 million US dollars, according to the Hong Kong Investment Funds Association.
Hong Kong equity funds registered net inflows of 7.68 million U. S. dollars, the first time this year that it saw net inflows, while Japanese equity funds saw the first net outflows this year of 16.13 million U.S. dollars in May.
Gross sales of European equity funds plunged by 44.75 percent, from 156.62 million U.S. dollars in April to 86.53 million U.S. dollars in May. Net inflows also dropped by 52.77 percent, from 76. 31 million U.S. dollars in April to 36.04 million U.S. dollars in May.
Sales of bond funds and cash funds also shrunk in May. Gross inflows into bond funds were slashed by 83 percent to 28. 38 million U.S. dollars in May from April's inflows of 167.39 million U.S. dollars. Cash funds' gross inflows dropped by 57.78 percent, from 230.29 million U.S. dollars in April to 97.22 million U.S. dollars in May.
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