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The funds that lost the most money in Q3

Exclusive Citywire research examining the top five sectors that lost the most money in the third quarter.

In this gallery, we examine the top sectors and funds that saw the most net outflows in the third 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 third 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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The global high yield bond sector lost $1.8 billion in the third quarter. Two thirds of the funds in the sector saw outflows with each averaging redemptions of $68.1 million.

The PIMCO GIS global high yield bond fund has been seeing outflows since February. Over the past eight months to September, accumulated withdrawals from the fund amounted to $1.3 billion. As of end September, the fund had $3.9 billion assets under management.

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Year-to-date outflows from the Schroder ISF global dividend maximiser fund peaked in September with investors redeeming $192.8 million during the month.

The fund returned 3.6% over one year to end September 2018, underperforming the MSCI World TR Net index by 7.6 percentage points over the same period. 

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The European equity sector saw withdrawals of $2.0 billion in the third quarter of 2018, 39.0% less than the $3.3 billion outflows it saw in the second quarter.

The JPM Europe select equity fund has been seeing seven straight months of outflows since March and averaged a monthly redemption of $50.7 million. 

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Investors withdrew more than double the amount from the alternative UCITS - bond strategies sector in the third quarter ($2.4 billion) than in the second quarter ($861.9 million).

Tides have turned for the BSF fixed income strat fund, however. After seeing seven consecutive quarters of inflows, the fund suffered redemptions in the third quarter of 2018. Over the last three months, the fund experienced an acceleration of outflows, losing $6.9 million, $9.3 million and $523.4 million in July, August and September, respectively.

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73.2% of funds in the global flexible bond sector registered negative net flows in the third quarter.  

Since December 2017, the Jupiter JGF dynamic bond fund has seen straight months of outflows totalling $4.1 billion. The fund concluded the third quarter of 2018 with assets under management of $8.4 billion in September.

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