US fund flows to Asia surge

Overseas, and particularly US, buying of Asian assets is surging says Goldman Sachs.

According to a Goldman Sachs strategy piece, foreign investors remained massive net buyers of emerging Asia last week. Their net purchases amounted to $1.8 billion, compared to $914 million for the week before and $102 million for the week before that. Clearly all those CIOs who came to the CLSA investor conference went back to the US with a new view of Asia.

New money helps. US-based equity funds surveyed by AMG Data Services reported net inflows totalling $3.59 billion for the week ended October 8. Inflows into Asia-Pacific ex-Japan funds were the biggest in the past 130 weeks that is, since April 11, 2001.

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