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Emerging fund outflows ease, equities suffer 17th week of losses
February 21, 2014 / 9:03 AM / 4 years ago

Emerging fund outflows ease, equities suffer 17th week of losses

LONDON, Feb 21 (Reuters) - Outflows from emerging bond and equity funds eased slightly in the past week to just under $3 billion, though equity investors pulled out cash for a record 17th straight week, banks said on Friday, citing data from EPFR Global.

The Boston-based fund tracker, which releases data to clients late on Thursday, said that $1.56 billion had fled emerging equity funds in the week to Feb. 19.

This represented a smaller loss than the $5 billion average seen in the past three weeks but brings year-to-date losses to $23.4 billion, versus $15 billion for the whole of 2013 for funds tracked by EPFR.

The 17 lossmaking weeks have brought cumulative outflows in this period to $38 billion or 5 percent of assets under management, analysts at Morgan Stanley calculate. Exchange-traded funds (ETFs) accounted for more than half the outflows.

The losses contrast with developed market equity funds which reported inflows of $14.5 billion in the past week.

Emerging bond funds meanwhile posted outflows of $1.25 billion, bringing total year-to-date losses to $9.26 billion. Last year’s outflows amounted to $14 billion.

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