Sales & Redemption Data

Hong Kong Retail gross sales continued to decrease in December, recording the lowest monthly figure for the year at US$6.8B. Gross redemptions increased from the prior month at US$8.9B, translating to net flows of -US$2.1B, the highest monthly net outflows since March 2020.

Gross and net sales for the full year 2025 however were the strongest annual sales for all history observed back to the beginning of 2019, at US$107.9B and US$14.7B respectively.
Asset class net flows for the month were led by Money Market at US$482M, with all other asset classes in negative territory, Bonds seeing the highest net outflows at -US$1.6B.
Over the full year horizon, Bonds led the positive net sales, followed by Money Market and Mixed Assets at US$9.4B, US$3.0B and US$2.8B.

At a category level, Money Market was the bright spot for net sales for the month. Net outflows were led by Bonds Global, Bonds North America and Bonds Asia Pacific at -US$915M, -US$348M and -US$132M respectively.

Over the full year, positive net sales were led by Bonds Global, Money Market and Mixed Asset Global at US$11.0B, US$3.0B and US$2.6B. Net outflows for the period were led by Bonds North America, Equities China and Equities Sectors & Themes ex-Asia Pacific at -US$1.6B, -US$629M and -US$468M.