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Monthly Trend Summary

September 2025

Hong Kong Retail gross sales remained buoyant at US$9.9B for September, whilst gross redemptions increased to US$8.8B for the month – the highest figure for redemptions since June 2021. Net sales remained in positive territory at US$1.1B, though this was the lowest monthly figure since negative net flows were recorded in April 2025.

Bonds retained the top spot for asset class net sales at US$1.1B, followed by Mixed Assets and Equities on net sales of US$646M and US$164M respectively. Money Market remained negative for the second consecutive month, recording net sales of -US$687M during September.

At a category level, the top 3 bestsellers remained the same for September, with Bonds Global followed by Mixed Assets Global and Equities Global on net sales of US$822M, US$490M and US$216M respectively.

Negative net sales for the period were led by Money Market, Equities China and Bonds Europe at -US$687M, -US$58M and -US$41M respectively.

Daniel Willmott, Broadridge

Data

Total Sales and Redemptions – past 12 months (in US$ million)

As of September 2025

  • Key
  • Sales
  • Redemptions

Gross Retail Sales to HK Investors (by % and US$)

September 2025

Key

  • Bonds Global (22.9%)
  • Money Market (13.2%)
  • Mixed Assets Global (11.1%)
  • Mixed Assets North America (9.8%)
  • Equities Global (7.6%)
  • Bonds North America (6.0%)
  • Bonds High Yield Global (5.1%)
  • Equities Asia Pacific (4.5%)
  • Equities Sectors & Themes ex-Asia Pacific (4.1%)
  • Mixed Assets Asia Pacific (3.6%)
  • Other (12.1%)

Gross Retail Redemptions by HK Investors (by % and US$)

September 2025

Key

  • Money Market (22.6%)
  • Bonds Global (16.4%)
  • Mixed Assets North America (10.6%)
  • Mixed Assets Global (6.9%)
  • Equities Global (6.1%)
  • Bonds North America (5.7%)
  • Bonds High Yield Global (4.5%)
  • Equities Asia Pacific (4.5%)
  • Equities Sectors & Themes ex-Asia Pacific (4.4%)
  • Mixed Assets Asia Pacific (2.7%)
  • Other (15.5%)

Sales & Redemptions Data Source

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