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. Last Updated: 07/27/2016

Funds Outflow Totals $64M

Russia-oriented investment funds lost $64 million in the week that ended Jan.16, a development that comes just a week after those funds had experienced a significant influx.

That inflow totaled $56 million and marked the first substantial inflow in 14 weeks, Vedomosti reported Friday, citing U.S.-based fund research firm EPFR Global.

The $64 million outflow is the result of a weak domestic economy as well as Russia's dependence on the flailing eurozone, analysts said.

A lack of economic reforms, the frequent changes in laws and the growing role in business all encourage investors to withdraw money from Russian investments, said Alexei Yevsyutin, a senior vice president for financial firm BKS.

(MT)