700 new funds launched in Asia last quarter, global results in
/New Funds in Global Markets for Q3 2015 - Asia, Local Europe, and Cross-Border
Long-term new funds in Asia, Europe, and Cross-Border markets gathered US$83.6 billion in net flows during Q3’15. Asia continued to dominate new product development with 700 launches accounting for nearly 70% of the total new fund flows for the quarter.
New long-term product sales in Asia totaled US$58 billion in Q3; US$46 billion of which came from China, followed by Japan with US$6 billion.
The top five Chinese new funds, each generating over US$6.5 billion in net flows, were all fully financed by China Securities Finance Corporation (CSF) to stabilize China’s A-shares markets.
Absolute return and guaranteed products were popular among Chinese retail investors in Q3, with two absolute return and three guaranteed funds, among the bestselling new launches for the quarter.
Roughly 277 new long-term funds launched in the Cross-border space, gathering US$11.5 billion in assets during Q3. Fixed Income vehicles raised US$4 billion, while equity and multi-asset garnered US$6 billion collectively. Interestingly, alternative multi-strategy funds saw significant investor demand with nearly US$2 billion in assets gathered.
New local funds in European markets gathered over US$14 billion throughout the third quarter. Italy represented the best-selling market with continued demand from target maturity and mixed products which gathered nearly US$5 billion. Germany and Switzerland followed with US$2.3 billion and US$1.9 billion respectively attributed to one major fund launch within each of these countries.