Outflows From Russia-Focused Funds at $68M for Week
- The Moscow Times
- Apr. 05 2013 00:00
- Last edited 13:25
Investors withdrew $68 million from Russia-focused funds between March 28 and April 3, the seventh week in a row that such funds have suffered outflows.
A total of $789 million has been pulled from funds investing in Russian shares since the start of the year, Interfax reported, citing Emerging Portfolio Fund Research data.
The week before $235 million was withdrawn from such funds.
Meanwhile, inflows to funds focused on emerging markets overall, or GEM funds, bounced back to reach $247 million in the last week of March, according to UralSib Capital.
But UralSib analysts said in a report to investors that "it's too early to expect large inflows into GEM funds in the short term," adding that Europe Middle East and Africa (EMEA) funds remained the least attractive among emerging market funds.
"We believe the slight pressure on the Russian share market will continue over the next several weeks," the report said.