Cerulli: Asian long-term mutual funds and ETFs post gains

Assets under management for Asian long-term mutual funds and exchange-traded funds grew for the sixth straight in November, according to a new report.

Cerulli Associates, Boston, published this finding in the January 2013 edition of “The Cerulli Edge: Asian Monthly Product Trends.” The monthly publication provides ongoing coverage of local and cross-border mutual funds and ETFs across the major Asian asset management markets.

The report shows Asian long-term mutual funds under management reached $2.083 trillion in November of 2012, up 3.2 percent from the $2.065 trillion recorded in October. Likewise, ETFs under management attained $119 billion, up 0.9 percent from the $115.4 billion posted in October.

The top five Asian long-term mutual funds, the report states, include Kokusai Emerging Sovereign Open (Monthly Settlement Hedged), which enjoyed $602.4 million in net new flows in November; Nomura Emerging Soverign ($572.7 million); Nomura High Dividend Infra EQ Premium—CSlt Monthly Settlement ($410.4 million); SCB Savings Fixed Income Open End ($366.4 million); and Schroder Asian Asset Income Fund ($333.5 million).

The top five Asian long-term ETFs, the report adds, include ChinaAMC CSI 300 Index ETF ($1.19 billion in net new flows); CSOP FTSE China A50 ETF ($484.3 million); State Street Tracker Fund of Hong Kong ($229.1 million); MitsubishiUFJ Maxis Nikkei 225 ETF ($192 million); and iShares FTSE/Xinhua A50 China Tracker ($174 million).

Asian long-term foreign-invested mutual fund asset under management totaled $496.4 million in November, a 0.01 percent decline from the October result, also $496.4 million. However, Mexico, Singapore and emerging markets enjoyed asset increases of 17.6 percent, 9.4 percent and 4.6 percent, respectively, the report states.

The Philippines posted the largest gains in net new flows (28.4 percent) and market appreciation (19.3 percent) for all Asian long-term mutual funds. Also among the region’s big gainers were Hong Kong (20.3 percent in net new flows and 11 percent in market appreciation), India (14 percent and 11.7, respectively), Singapore (8.4 percent and 15.2 percent); and Thailand (15.1 percent and 8.1 percent).

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