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Five sectors that lost the most money in July

Citywire Asia presents the top five sectors that saw the most net outflows in July.

In this gallery, we examine the top sectors and funds that saw the most net outflows in July 2018.

The analysis is based on global fund flows experienced by funds available for sale in Singapore and/or Hong Kong. All flow figures are in US dollars.

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In this gallery, we examine the top sectors and funds that saw the most net outflows in July 2018.

The analysis is based on global fund flows experienced by funds available for sale in Singapore and/or Hong Kong. All flow figures are in US dollars.

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The global emerging market local currency bond sector has fallen out of favour with investors since the strengthening of the greenback. The sector has been suffering from a string of outflows and has lost $3.2 billion from May to July this year.

Among the hardest hit is the Aviva Investors Emerging Market local currency bond fund which saw net redemptions of $714.7 million in July. The fund ended the month with assets under management of $2.2 billion.

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The global equity income sector saw net outflows of $701.0 million in July, about half of what it lost in June ($1.5 billion).

The M&G Global Dividend fund has been on an outflows streak since February 2017 and has lost $2.3 billion cumulatively over the last 18 months.

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The US Dollar high yield sector has been battered by an extended period of outflows as banks and asset managers turn cautious on the asset class. Since June last year, the sector has been suffering from average net withdrawals of $1.1 billion every month.

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On average, funds in the global high yield bond sector lost $16.0 million in July this year.

Though the Allianz Global Multi-asset credit bond fund took in net new assets of $268.0 million in June, it failed to sustain investors' interest and saw net redemptions of $90.3 million in July.

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Following Timothy Haywood's suspension, GAM has proposed to liquidate its absolute return bond fund range that was overseen by Haywood. This includes the GAM Multibond Absolute Return fund which have been seeing consecutive months of outflows since November last year.

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