Emerging fund outflows easeComment on this story
London - 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 February 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. - Reuters