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October: the funds that lost the most money

Exclusive Citywire research examining the top five sectors that lost the most money in October

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

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 October.

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 alternative UCITS bond strategies sector bled $997.1 million this October. About 83.3% of the funds in the sector saw outflows, each averaging redemptions of $52.9 million.

While the BSF fixed income strategy fund saw an influx of net new money in the first five months of the year, a string of redemptions followed thereafter. However, its year-to-date flows remains in the positive territory at $684.7 million.

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The Euro corporate bonds sector saw net redemptions of $1.0 billion, 15.2% more than the previous month.

The GAM Star credit opportunities fund bled $548.7 million in October, accounting for more than half (54.6%) of the sector's outflows. The fund has been hit by a series of withdrawals since May this year, with outflows totalling $1.5 billion.

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Investors withdrew $1.2 billion from the US dollar high yield bond sector in October. On average, each fund in the sector lost $24.4 million during the month.

Outflows from the Neuberger Berman high yield bond fund continued into its 17th month. The fund had been seeing outflows since June 2017 and has lost $4.1 billion since then. Its fund size stands at $4.3 billion as of end October 2018.

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Outflows from the global corporate bond sector extended into its ninth month this October. The sector lost $1.3 billion, its largest bout of outflows year-to-date.

2018 has been a year of outflows for the PIMCO GIS global investment grade credit fund so far. Year-to-date redemptions from the fund has hit $1.9 billion in October. Its fund size stands at $17.7 billion as of end October 2018.

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The global flexible bond sector has been hit by a series of outflows since February this year. Redemptions peaked in October with investors pulling $3.6 billion from the sector during the month.

While the BGF fixed income opportunities fund bled $378.6 million in October, it has seen positive net flows of $483.0 million year-to-date. Net new assets into the fund this year is largely attributed to Q1 subscriptions that amounted to $912.2 million. As of end October 2018, the fund had $11.0 billion in assets under management.

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