MRF northbound flows soar, dominated by JPM AM

There was a huge rise in flows into Hong Kong products last month under the mutual recognition of funds (MRF) scheme, driven by Chinese demand for Asian bonds and with JP Morgan Asset Management totally dominating flows. Net inflows to Hong Kong MRF products shot up to Rmb4 billion ($621 billion) in August, surpassing the Rmb3.9 billion in total flows for the first seven months of the year (see table below). JP Morgan AM is by far the biggest winner under the MRF's northbound le…