Last Fall FAX was 96% in Australia with a problem of loads of old bonds maturing in the next 5 years. Since that time due to new policy changes that portfolio certainly has a different flavor. With yields in the 5% area in Australia it not easy paying out over 10% on assets after expenses. Hence the Fund's decision to invest elsewhere.
Here's a few trends . Presently the funds Australia assets represents 78% of the portfolio, down from 80.2% from March and from 82.2% in Feb.
It also appears the fund took some profits in South Korea in March as that countries % dropped from 11.2% to 9.6% in April. Why I don't know with all these Aussie bonds maturing. The South Korean portion is only 1.6% in local currency too.
As a % of the whole, which might not truly represent underlining money flows but might be of interest.....Thailand's % is slowly increasing, China dropping, New Zealand slightly up,korea leveling in at roughly 10%. Of course all these are small factions of the portfolio. The overall trend seems to be working towards the 33% in other then Aussie bonds.