Bullish mood swells equity funds
Strong stock market sentiment has led more investors to put their money into equity funds, with sales in the first 10 months surpassing last year's figures.
Investors have bought US$16.34 billion worth of fund units, up 50 per cent on the corresponding period last year and beating last year's full-year sales of $12.64 billion, according to figures from the Hong Kong Investment Funds Association.
Association spokeswoman Sally Wong said the growth was mainly due to the improvement in stock markets worldwide that had led to more investors buying stock funds.
Mrs Wong said that from April to June, investors preferred to put their money in stock funds investing in European and US stock markets.
After the Sars outbreak ended, investors switched their focus to the Asia-Pacific region, particularly China, she said.Enoch Yiu
