The recent rally in Asian markets has come as welcome relief for fund managers across the region. They were hit hard by the sell-off in global equities and a steeper stock market decline than other regions experienced, but improved investor sentiment is now supporting new and successful fund launches in markets as distinct from each other as Japan and China.

According to EPFR Global, which tracks international fund flows, emerging market equity funds attracted $3.6bn (£2.4bn, €2.6bn) in the first week of May with Asia accounting for more than $1.6bn of that. This is indicative of the more recent renewal of capital flows to emerging economies as investors position for possible reflation and re-risk their portfolios.