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May: funds that lost the most money

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

In this gallery, we examine the top sectors and funds that saw the most net outflows in May 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 May 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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While the European equity sector netted inflows of $7.0 billion in the first quarter this year, demand for the sector has since receded. The sector recorded net outflows of $1.2 billion and $955.8 million in April and May, respectively.

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Investors pulled out of the Emerging Markets global local currency bond sector as the US Dollar continues to strengthen. The sector registered net withdrawals of $1.2 billion in May, its first monthly outflows year-to-date.

The PIMCO GIS Emerging local bond fund took the biggest hit with net redemptions of $595.7 million in May. The fund concluded the month with assets under management of $2.6 billion.

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The US Dollar high yield bond sector has seen 12 straight months of net outflows since June 2017. Investors redeemed a total of $14.2 billion during this period.

The Fidelity US High Yield fund lost $114.2 million in May, nearly 4 times that of April ($28.8 million). As of end May, the fund had $3.6 billion in net assets.

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Redemptions from the global high yield bond sector nearly doubled in May. The sector lost $678.5 million in April and netted outflows of $1.2 billion a month after.

On average, funds in this sector saw net redemptions of $23.7 million in May.

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While the global flexible bond sector registered the most outflows in May, redemptions were largely concentrated in the PIMCO GIS income fund. The mega fund lost $1.6 billion, its largest outflow year-to-date.

The Nomura Global Dynamic bond fund recorded its first month of net outflows in May this year. As of end April, the fund had $302.9 million assets under management.

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