Allianz Global Investors, Eurizon Capital and JP Morgan gathered the most assets in their allocation (or mixed asset) funds in the first quarter.
The whole allocation fund sector attracted net TN$107bn ($3.6bn) of which Allianz GI commanded more than half, TN$62bn ($2.1bn)
In terms of fixed income funds, AllianceBernstein (AB) was particularly successful, gathering TN$46.6bn ($1.6bn) while Blackrock, Fidelity and Schroders had the highest outflows in the category.
Top and bottom four firms in Taiwan by net flows
Data: Morningstar. By estimated net flows in Q1 ’17, excluding money market funds, in TN$bn
Equities hit hard
The equity fund sector had the highest Q1 outflows, TN$214bn ($7.1bn), among all asset classes. Franklin Templeton, Fidelity and Invesco posting the worst numbers.
Franklin Templeton lost TN$77.7bn ($2.6bn) of assets from its equity funds, Fidelity lost TN$46.3bn ($1.5bn) and Invesco TN$26.9bn ($900m).
Net fund flows by asset class
Data: Morningstar. Estimated net flows data for Q1 2017, in TN$ bn
The three firms had the strongest outflows in their US large-cap and global large-cap equity funds.
Franklin Templeton at the same time gathered assets in its emerging markets bond funds, while Fidelity’s Global Technology Fund and Asian Smaller Companies Fund posted considerable net inflows.
In contrast, Schroders and Pictet managed to gather assets in their equity funds, recording TN$10bn ($300m) and TN$13.1bn ($400m), respectively. Schroders’ Eurozone Large-Cap Equity Fund and the Pictet Robotics Fund led the firms’ gains.
