HONG KONG - Forty-two mutual funds investing in Asia stormed into the list of the world's top 100 best performing equity funds in 2012 as regional markets from India to Southeast Asia rallied.
The top 100 list includes 14 equity funds each from Pakistan and Thailand and nine from India, according to an analysis of data for 27,153 actively managed equity mutual funds tracked by Thomson Reuters Lipper globally.
The Karachi Stock Exchange's benchmark 100 share index surged 49 per cent, while Bangkok's benchmark SET index finished 35.8 per cent up last year, making them the two best performing share markets in Asia.
The Asia-focused funds produced an average return of 61.5 per cent, outperforming the top market in the region as well as the 18.6 per cent advance in the MSCI's broadest index of Asia-Pacific shares outside Japan.
Nearly 7,300 equity funds investing in Asia and tracked by Lipper returned an average 17.9 per cent in 2012. By comparison, non-Asian funds gained 13.3 per cent, the data showed.