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Major Asian markets still look good to some investors

Equity investors continued to pump money into Japan, China and Korea Equity Funds heading into the final week of October as key US indexes surrendered their year-to-date gains and political tensions weighed on European markets. China Equity Funds posted their third largest weekly inflow of record, Japan Equity Funds absorbed over $5 billion for only the sixth time since EPFR started tracking them and another $518 million flowed into Korea Equity Funds.

Europe Equity Funds ended the week with their smallest outflow since early September as investors treated Italy – at least for now – as a stand-alone case in its quest for more deficit spending. Italy Equity Funds posted their 13th outflow in the past 14 weeks and Italy Bond Funds their seventh in the past eight weeks.

Overall, EPFR-tracked Equity Funds recorded a collective net inflow of $8.4 billion during the week ending Oct. 24. Money Market Funds took in over $15 billion while $955 million was pulled out of Alternative Funds and $7.2 billion out of Bond Funds. Funds with socially responsible (SRI) or environmental, social and governance (ESG) mandates, with the notable exception of Asia Pacific Equity Funds, continue to attract fresh money even when the broader geographic groups they are part of struggle.

At the asset class and single country fund levels, Municipal and Inflation Protected Bond Funds extended their longest outflow streaks since 4Q16 and 4Q14 respectively. UK Equity Funds posted inflows for the first time this quarter, Russia Equity Funds chalked up their biggest inflow since mid-August and redemptions from Turkey Equity Funds hit a 14-week high.

YTD flows in AUM terms

 

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