Hong Kong's gross fund sales rebounded by 48 percent to US$6.8 billion (HK$53.04 billion) in August from a low of US$4.6 billion in April, according to the Hong Kong Investment Funds Association.
The fund industry saw a net outflow of US$3.7 billion in the first eight months, and gross sales plunged 16 percent year-on-year to US$54.5 billion.
"In March, the World Health Organization characterized Covid-19 as a pandemic. Investors were worried that the outbreak would have devastating impact on the global economy, thus quickly took risk off the table. As a result, the industry recorded net outflows of US$8.4 billion in a single month of March," said HKIFA chairman Nelson Chow.
He continued: "However, global central banks have responded swiftly by adopting dovish monetary policies, as well as by introducing other supporting measures.
"With interest rates maintained at historical low levels, investment sentiment has started to improve and global asset prices start to rise.
"Since April, the industry has almost consistently registered monthly net inflows.
"In total, between April and August, the industry registered robust aggregate net inflows of US$1.5 billion, and the trend has remained positive."
On a year-to-date basis, bond funds account for about 48 percent of gross fund sales.
Among all the key fund categories, equity funds came second, attracting gross inflows of about US$16 billion, which accounts for close to 29 percent of the industry total. Compared with the same period of last year, gross sales saw a 52 percent increase.