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Emerging markets net inflows fall to one-third of previous month- IIF

| NEW YORK, Sept 20

NEW YORK, Sept 20 Emerging market stock and bond funds had net inflows of roughly $5.5 billion in the month ended mid-September, a sharp drop from the previous period when investors poured a net $16.5 billion into the asset class, a survey issued on Tuesday showed.

"Uncertainty over G3 central bank policies has contributed to a slowdown in fund flows to emerging markets," the Institute of International Finance said in its survey in reference to U.S., Japanese, and European central banks.

The pullback from the asset class came ahead of Wednesday's interest rate policy meetings at the Bank of Japan and U.S. Federal Reserve.

However, flows to emerging markets bonds and equities outpaced their developed market counterparts as a percentage of assets under management.

Investors continued to be net buyers with emerging market bond funds taking in a net $2.8 billion while equities saw $2.7 billion of inflows.

The largest inflows came from investors in Europe at some $4.2 billion, which served to offset net outflows by investors in other parts of the world. European investors increased their exposure to emerging market equities by more than $2.9 billion, IIF reported.

U.S. investors also added to their emerging markets equity exposure, upping net inflows to emerging markets stocks by $1.4 billion, the survey showed.

The numbers showed investors were continuing their search for yield by reaching for riskier assets as flows to long-term and high-yield emerging markets debt increased while short-term and investment-grade debt showed net outflows.

While emerging market asset buying had risen significantly in the second half of the year, IIF cautioned that inflows were well below their levels from the 2010-2013 period when emerging market bonds and equities rose to more than 20 percent of portfolio weightings. (Reporting by Dion Rabouin; Editing by Daniel Bases)

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