Singapore-domiciled actively-managed mutual funds have collectively seen net inflows of S$2.819bn ($2.7bn) in 2017, according to data from Morningstar.
The net inflows are roughly double those gathered by Hong Kong-domiciled mutual funds in the same period, despite the smaller size of Singapore’s mutual fund market.
The AUM of all Singapore-domiciled funds was S$39.9bn at the end of 2017, which is only about 62% of the size of Hong Kong-domiciled fund assets.
In aggregate, mixed asset and fixed income funds gathered assets, while equity funds had net outflows across most regions and sub-categories. The few notable exceptions with positive net flows were Japan equity, India equity and technology funds.
| Fund Category | Estimated Net Flow 2017 (S$) | AUM 31 Dec 2017 (S$) |
| Mixed Assets | 2.85bn | 8.88bn |
| Fixed Income | 2.26bn | 14.79bn |
| Equity | −2.28bn | 16.14bn |
Data: Morningstar, 31 December 2017. Singapore-domiciled funds.
The general trend toward buying mixed asset and fixed income funds is reflected in the list of top ten asset gathering funds authorised for sale in Singapore in 2017, and in the similar list of top ten funds that lost assets.
Top 10 asset-gathering mutual funds (S$)
| Fund | Category | Estimated Net Flow 2017 | Fund Size 31 Dec 2017 |
| Schroder Asian Income | Mixed Assets | 1.41bn | 4.3bn |
| United Income Focus Trust | Mixed Assets | 1.07bn | 2.1bn |
| Manulife SGD Income | Singapore Dollar Bonds | 883m | 960m |
| Fullerton Short Term Interest Rate | Singapore Dollar Bonds | 646m | 1.41bn |
| Lion Bank of Singapore Asian Income | Asia Mixed Assets | 402m | 637m |
| Fullerton Asian Bond | Asian Bonds | 303m | 355m |
| Fullerton USD Income | Asian Bonds | 284m | 984m |
| Schroder Asian Growth | Asia ex-Japan Equity | 259m | 1.19bn |
| UOB United SGD | Singapore Dollar Bonds | 255m | 1.58bn |
| Lion Bank of Singapore Emerging Market Bond | Global Emerging Market Bonds | 252m | 1.01bn |
Data: Morningstar, full year to 31 December 2017. Singapore-domiciled funds in Singapore dollars.
Top 10 asset-losing mutual funds (S$)
| Fund | Category | Estimated Net Flow 2017 | Fund Size 31 Dec 2017 |
| Fullerton SGD Income | Singapore Dollar Bond | −521m | 1.85bn |
| Foord Global Equity | Global Large-Cap Blend Equity | −439m | 767m |
| Deutsche China Equity | China Equity | −275m | 127m |
| First State Dividend Advantage | Asia-Pacific ex-Japan Equity | −220m* | 2.06bn* |
| Legg Mason Asian Enterprise Trust | Asia ex-Japan Equity | −174m | 23.6m |
| Nikko AM Asia Healthcare Fund | Equity: Healthcare | −140m | 253m |
| UOB United International Growth | Global Large-Cap Growth Equity | −138m | 65.2m |
| Eastspring Investments UT Dragon Peacock Fund | Asia-Pacific Equity | −123m | 1.16bn |
| United Japan Small & Mid Cap | Japan Small/Mid Cap Equity | −121m | 215m |
| Aberdeen Singapore Equity | Singapore Equity | −114m | 841m |
Data: Morningstar, full year to 31 December 2017. Singapore-domiciled funds in Singapore dollars.
* Data as of 30 November 2017
Looking at firms, Schroders gathered the most new assets in 2017. The firm also leads the league table by AUM of Singapore-domiciled funds during the same period.
UOB, the second largest asset manager in Singapore, was the second most successful gatherer of new assets in 2017.
Two smaller firms, Manulife AM and Amundi, have shown extraordinary growth of assets in 2017, tripling their AUM in 2017.
Manulife Asset Management grew its assets to S$1.45 bn at the end of 2017, from S$453 a year earlier, mostly thanks to its SGD Income Fund, launched in November 2016.
Amundi’s assets grew to S$133m from only S$43m a year earlier, thanks to the launch of its SGD Income Plus Fund in November 2017.
Ten biggest asset managers in Singapore (S$)
| Firm | Estimated Net Flow 2017 | AUM (31 Dec 2017) |
| Schroders | 1.6bn | 8.71bn |
| UOB | 1.04bn | 6.42bn |
| Fullerton | 617m | 5.39bn |
| Lion Global Investors | 663m | 3.84bn |
| First State | −321m | 3.33bn |
| Aberdeen AM | −477m | 2.71bn |
| Eastspring Investments | −60.7m | 2.18bn |
| Nikko AM | −259m | 1.99bn |
| Manulife AM | 977m | 1.45bn |
| Deutsche Bank | −340m | 937m |
