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Funds that lost the most money in Q1

Citywire Asia presents the top five sectors and funds that saw the most net outflows in the first quarter of 2018

In this gallery, we examine the top sectors and funds that saw the most net outflows in the first quarter of 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 the first quarter of 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 the first quarter of 2018, 72.7% of funds in the Euro high yield bond sector reported net withdrawals averaging $123.6 million.

Pictet short term high yield fund accounted for 52.7% of outflows from the sector. The fund has been seeing redemptions for 12 straight months since April 2017. Cumulative outflows over this period amounted to $1.8 billion.

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While the Euro corporate bond sector posted net outflows of $1.4 billion in the first quarter of 2018, the positive turn in flows in March signalled signs of improving sentiments.

The sector registered redemptions of $520.0 million and $1.1 billion in January and February respectively, but gathered inflows of $263.5 million in March.

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Investors pulled $1.8 billion from the US Dollar bond sector in the first quarter of 2018, 20.5 times more than the previous quarter ($88.9 million). Year-to-date outflows from the sector reached its peak in March with redemptions of $1.1 billion during the month.

64.1% of the net withdrawals in the sector were driven by the AB FCP I-American Income Portfolio I USD fund. The funds saw outflows of $1.2 billion in the first quarter of 2018 and ended the quarter with assets under management of $11.2 billion at end March 2018.

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While the global high yield bond sector started the year with positive flows of $493.5 million in January, investment sentiments turned negative thereafter. The sector suffered outflows of $2.1 billion and $2.9 billion in February and March respectively.

The PIMCO GIS Global High Yield Bond Inst USD Acc fund lost $490.2 million in the first quarter. 81.8% ($397.5 million) of the withdrawals occurred in March.

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In the first quarter, 80.0% of US Dollar high yield bond funds registered negative flows averaging $162.3 million.

The Neuberger Berman high yield bond fund recorded net outflows of $746.4 million in the first quarter this year, 30.4% lower than the previous quarter ($1.1 billion).

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