Source: Strategic Insight
The Harvest Yuanhe Direct Closed Mixed is the top-selling new fund in Q3 in Asia, collecting $1.6 billion since its launch in September, according to Strategic Insight data.
The vehicle is a closed fund that allows investors to directly participate in the mixed ownership reform for state-owned enterprises. Harvest received approval to invest up to 50% of its assets in the ownership restructuring of Sinopec Marketing Co.
The product is also the first closed-end fund to be approved in 12 years and the first Chinese mutual fund to be given access to non-listed equity and to invest more than 10% of its assets in shares of a single entity, according to Strategic Insight.
The remaining portion of the fund’s AUM will be invested in other fixed income securities.
Asia’s capital inflows
In Asia, capital flowing into new funds across all asset classes was up about 10% in Q3 compared to Q2.
Total new capital was $43.5bn compared to $39.3bn in Q2. The figures are for inflows only and include domestic funds across the region.
Equities and mixed asset funds showed the largest quarter-on-quarter gains and real estate the largest decline.
Source: Strategic Insight
