Inflows to Equity funds dropped in December
Only 0.287 billion (MYR) was put into equity funds in December, a level significantly lower than previous months.
Flows by Morningstar Categories
(Ranked by 1-Mo flow as of December 2014, excluding money markets and funds of funds)
Islamic Malaysia Equity saw 336 million (MYR) in December, and recorded an estimated amount of 6,216 million (MYR) in 2014. Public Islamic Sector Select fund alone saw 212 million (MYR) inflows in Decemeber.
MYR Bond suffered large amount of outflow again in December, estimated at 513 million (MYR), putting its 1-year outflow 1,090 million (MYR). Hong Leong Income Management fund and Ambond fund are of those with significant outflows in December, estimated at 298 million (MYR) and 102 million (MYR) respectively.
Top- and Bottom- Flowing Mutual Funds in December
(Ranked by 1-Mo flow as of December 2014, excluding money markets and funds of funds)
Flows by Fund Family
(Ranked by assets as of December 2014, excluding money markets and funds of funds)
The largest fund family by AUM in Malaysia, Public Mutual, saw 128 million (MYR) net inflows in December, making its whole year’s inflows 2,839 million (MYR). CIMB Principal Asset Management had a good year as well. Its 1-year inflow is estimated at 2,169 million (MYR).
Important methodology note: Morningstar computes flows using the approach that is standard in the industry: Estimated net flow is the change in assets not explained by the performance of the fund. Our method assumes that flows occur uniformly over the course of the month. Adjustments for mergers are performed automatically. When liquidated funds are included, the final assets of the fund are counted as outflows. Reinvested dividends are not counted as inflows. We use fund-level reinvestment rates to improve accuracy in this respect. We make ad hoc adjustments for unusual corporate actions such as reverse share splits, and we overwrite our estimates with actual flows if managers are willing to provide the data to us. Please click here for a full explanation of our methodology.
