Taiwan’s onshore funds’ AUM set to top NT$2 trillion
17 December 2013
Category: News, Asia, Taiwan
By Asia Asset Management
Taiwan’s onshore funds are poised to surpass the NT$2 trillion (US$66.6 billion) mark by the end of this year following the 626 domestic-registered mutual funds displaying growth of 0.96% month-on-month, taking the total to NT$1.97 trillion as of the end of November, according to the figures from the Securities Investment Trust & Consulting Association (SITCA).
The growth was mainly driven by a rally in the Taiwan stock market, which was highlighted by the fact that the benchmark Taiwan Stock Exchange Weighted Index went up around 7% to 8,338, from 7,778 at the beginning of 2013.
The statistics also reflect the trend in which investors have been switching from fixed income to equities funds this year. Equities funds gained NT$6.4 billion in total AUM from October to November while fixed income funds’ total AUM shrank by NT$2 billion.