Bloomberg News

Emerging Stock Funds Post Biggest 2012 Weekly Outflow, EPFR Says

May 11, 2012

Emerging-market stock funds had their biggest weekly outflows in 2012 as the prospect of a deeper recession in Europe prompted $1.11 billion of sales for the five days ended May 9, according to EPFR Global.

Net investment into developing-nation equity funds has totaled $22.72 billion in 2012, compared with outflows of $12.07 billion for the same period in 2011, according to a report e- mailed today by the Cambridge, Massachusetts-based data provider.

So-called Global Emerging-Market funds, or GEM funds, recorded net outflows for the week of $598 million, the data show, after recording net inflows of $371 million in the prior week. India-dedicated equity funds recorded the biggest redemptions among Asian country fund groups, posting net outflows of $110 million while China funds posted a net outflow of $35 million, Cameron Brandt, EPFR director of research, said by e-mail today.

Latin American funds saw a net outflow of $187 million while Russia equity funds recorded their biggest redemptions since December as net outflows totaled $188 million. Asian funds excluding Japan recorded a net outflow of $75 million.

The average emerging-market equity portfolio declined 4.48 percent for the week, cutting the 2012 advance to 7.68 percent, Brandt said.

Emerging-market bond fund inflows reached an eight-week high of $1.05 billion, Brandt said.

To contact the reporter on this story: Leon Lazaroff in New York llazaroff@bloomberg.net

To contact the editor responsible for this story: Tal Barak Harif at Tbarak@bloomberg.net


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