Emerging Market Stock, Bond Funds Lose Money For 1st Time In Weeks
"With central banks around the world clearly shifting their focus to winding down the extraordinary measures many of them have taken over the past year and unemployment rates continuing to climb, investors spent the first few days of November wondering what will drive economic growth in 2010," EPFR said.
Outflows from emerging-market equity funds hit an 11-week high at $1.32 billion, with all four subgroups seeing money escape for the first time since June. EPFR cited rising risk aversion as investors questioned "the validity of current valuations."
Emerging-market bond funds saw outflows of $1 million, after posting inflows for the seven preceding weeks.
Emerging-market equity funds investing around the world surrendered $539 million, while Europe Middle East Asia-specific funds lost $344 million. Asia funds, ex-Japan, declined by $251 million and Latin America equity funds surrendered $185 million.
Within Europe, emerging-Europe dedicated stock funds posted outflows for the first time in 16 weeks and redemptions from Russia-focused stock funds hit a year-to-date high at $243 million.
Asia funds were struck by concerns over ongoing export demand into the next year, given fears that a global recovery wasn't on track. Outflows from China equity funds totalled $270 million, while $82 million escaped from India funds in this group's biggest year-to-date outflow.
Only Brazil, Russia, India and China-dedicated funds continued to garner support, with inflows of $16 million.
-By Riva Froymovich, Dow Jones Newswires; 212-416-2217; riva.froymovich@dowjones.com
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Publié le 06 novembre 2009 Copyright © 2009 Dowjones
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