Fund flows into emerging markets turned negative once again for the week ending November 12, after a brief one-week stint during which investors told themselves exposure to the developing world might not such a bad thing after all.
Not so much this week – all dedicated emerging market funds registered outflows equivalent to around 0.12 per cent total assets, according to data from EPFR. Only LatAm mandated funds proved resilient (if barely) to deteriorating sentiment, with inflows amount to 0.01 per cent of total assets.
Investors continued their exodus from bond funds dedicated to emerging markets, however, pulling money out for a fourteenth consecutive week. Outflows from these funds during the week to November 12 were equivalent to almost 2.8 per cent of assets under management; cumulative outflows year to date are around $12.8bn.
Related links:
Fitch downgrades four emerging markets – FT
Reality for emerging markets – John Plender / FT
Emerging market default risk grows – FT
Appetite for emerging markets will recover – Jerome Booth, Ashmore / FT