Japan commodity fund value hits new low in Oct

TOKYO, Nov 12 (Reuters) - The face value of funds sold by commodity brokerages in Japan fell 14 percent in October from the previous month to a record low of 15.5 billion yen ($172.5 million), industry data showed.

It was the 26th straight month of decline and reflects an increase in alternative investments, data compiled by the Japan Commodities Fund Association showed.

These include gold-backed exchange-traded funds and commodities index-linked multi-funds, both sold by banks and securities brokerages.

The 20 commodity funds in Japan saw a net outflow of 2.6 billion yen in October due mainly to cancellations.

The market value of assets under management in these funds was not available, the association said.

No funds have been launched since July 2008. ($1=89.85 Yen) (Reporting by Miho Yoshikawa)