TheStar
LONDON: Emerging equity funds absorbed US$5.21bil last week, bringing the six-week inflow tally to US$18.9bil as money continues to rotate out of developed market funds, consultancy EPFR Global said late on Friday.
In the first nine months this year, global emerging market funds received net inflows of US$3.3bil, slightly less than in the same period last year while ex-Japan Asia and Latin America saw net inflows of US$9.7bil and US$8.2bil respectively.
In case of Latam, this is four times the net amount received in the first nine months of 2006.
In contrast, funds geared to the United States, Japan and Western Europe all posted net outflows in the January–September period, EPFR data show.
The consultancy said Japanese and European equity funds were hit with sizeable redemptions again last week while global bond funds posted net outflows for the ninth week in a row, losing US$4.58bil in the past nine weeks. – Reuters
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