Asian investors have rediscovered their waning appetite for equity and bond funds, kicking off a fledgling recovery in mutual fund sales across the region.
The news will hearten fund industry executives who have banked on Asia becoming a strong driver of growth only to see sales slump in the wake of the financial crisis.
Investors in the Asia-Pacific region pumped a net $26.9bn into domestic mutual funds in the second quarter of the year, according to data from Lipper FMI, the highest level since the final quarter of 2009. The uptick in the second quarter followed three consecutive quarters of net outflows.
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