(Indonesia) – Mutual funds investing in Indonesia were Asia’s best in April, delivering an average 18 percent returns to investors.According to fund tracker firm Lipper, gains posted by funds focussed on Indonesia were better than a 13.3 percent rise in the benchmark Jakarta stock exchange index in April, with the index having gained 11 percent to date in 2003.
South Korean mutual funds by contrast have delivered a 5.4 percent return during the month.
Taiwan focused funds have proved to be Asia’s worst performers, dropping 3.4 percent during April, with fund investment in China losing 2.2 percent in April.
Analysts see regional fund buying in the second quarter of the year remaining weak.