Foreign investors continued to pull out large sums from the emerging market equity funds last week, with the Asian equity funds witnessing an outflow for the sixth week in a row taking the total exodus to over $18 billion so far is year. According to the latest report by international fund tracking firm EPFR, tumbling commodity prices and declining demand from the US have drawn emerging markets equity funds, including those focused on India, to collectively see an outflow for the 17th time for the week ended October 16 in the past 19 weeks.
"Investors also pulled money out of Asia, ex-Japan, Equity Funds for the sixth consecutive week, pushing year-to-date outflows to over $18 billion, while committing a modest USD 61 million to the diversified Global Emerging Markets (GEM) Equity Funds," the EPFR report stated. Meanwhile, investors looking for a channel to tide over the storms of doubt and uncertainty surrounding the global markets flocked to money market funds during the second week of October. Money market funds absorbed a record-setting $44.4 billion for the week ending October 16. Other funds that attract fresh money were Europe Equity Funds, Financial and Consumer Goods Sector and the diversified Global Emerging Markets (GEM) Equity Funds. Among the fund groups posting significant outflows were US, Global, Asia ex-Japan, Latin America and Europe, Middle East and Africa (EMEA) equity, balanced and US, global and emerging markets bond funds. The BRIC (Brazil, Russia, India and China) equity funds extended their losing streak to the 11th consecutive week, while the Brazil equity funds posted outflows for the 18th time in 19 weeks http://www.rediff.com/money/2008/oct/21asia.htm Fear is not the natural state of civilized people. --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Kences1" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [EMAIL PROTECTED] For more options, visit this group at http://groups.google.com/group/kences1?hl=en -~----------~----~----~----~------~----~------~--~---
