Concerns over the looming tapering of asset purchases by the Federal Reserve have negatively impacted market sentiment in Asia, as observed in the shrinkage of assets under management during the past month.
Word of this comes from Cerulli Associates, which examines trends among Asian mutual funds, money market funds and new products in its August 2013 issue of the “Cerulli Edge: Asian Monthly Product Trends Edition.” The publication also features analyses of asset management flows by country, including China, Korea, Taiwan, Singapore, Malaysia and Thailand.
In June, long-term Asian mutual funds under management dipped to $2.108 trillion from $2.156 trillion, a 2.2 percent decline. Assets under management of exchange-traded funds (ETFs) managed to rise in value over the same period by 0.8 percent, increasing to $140.1 billion from $138.9 billion.
However, the increase is less than the 2.5 percent rise recorded in May and the 4.9 percent gain posted in March, a six-month high.