QFII funds’ performance displayed resilience in August
23 September 2013
By Asia Asset Management
QFII A-share funds rebounded in August, with average growth at 4.45%, despite the funds’ year-to-date returns remaining in the red, according to a report from fund consultancy Lipper.
Galvanised by the 5.25% ascent of the SSE Composite Index, the Korea Investment KINDEX Mainland China CSI300 ETF topped out the QFII funds list with growth of 6.43% in August. It was trailed by the Nikko Listed IDX Fund China A Share (Panda) CSI300 and the Morgan Stanley China A Share Fund, which recorded returns of 6.38% and 6.27%, respectively.
The report said the year-to-date performance of QFII funds has been inferior to domestic counterparts, with an average loss of 6.81%.
Among domestic mutual funds, technology, media & telecommunication-related equity funds outperformed peers. These sectors reported a combined accumulated return of 46% for the first eight months of the year. Natural resource-focussed equity funds were the worst performers, realising an accumulated loss of 26% during the same period.
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