Mon, Oct 23, 2017 - Page 15 News List

Offshore fund sales rise to record NT$3.43 trillion

By Crystal Hsu  /  Staff reporter

Taiwan’s offshore fund sales last month rose 1.51 percent month-on-month to a record NT$3.43 trillion (US$113.42 billion), posting their 10th consecutive monthly increase amid improving risk appetite among local investors, JPMorgan Asset Management Taiwan Ltd (摩根資產管理) said on Friday.

Equity, bond and balanced funds all picked up noticeably, lending support to the sentiment improvement in the market, the local branch of the fund house said in a statement.

Emerging market funds outperformed other fund types with monthly growth of 9.08 percent, or an increase of NT$30.25 billion to NT$363.4 billion, it said.

The figure translated into an 84.01 percent expansion from December last year, JPMorgan said.

The pursuit of better yields accounted for the popularity of emerging-market funds, JPMorgan fund manager Pierre-Yves Bareau said in the statement, adding that this type of funds have average yield rates of 6.8 percent.

Equity funds gained 0.37 percent month-on-month to NT$1.25 trillion, while balanced funds grew 2 percent to NT$408.7 billion, as both investment tools held firm, the company said.

The two funds grew despite rising geopolitical tensions and uncertainty in the US monetary policy throwing global bourses into disarray from time to time, JPMorgan said.

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