Emerging market stock funds see $1.6 Billion outflows

Monday, 23 May 2011, 15:49 IST
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Emerging market stock funds see $1.6 Billion outflows
New Delhi: Investors pulled out $1.64 billion from emerging markets equity funds last week for the first time in two months. During the third week of May, emerging market equity funds lost $1.64 billion accounting for a major portion of a total outflow of $7.07 billion in global stock funds, according to the data complied by the international fund tracking firm EPFR. This was the first time since third week of March that emerging market equity funds saw outflows on renewed concerns over Greek's debt and withdrawal of economic stimulus from the Federal Reserve on cards. "Fresh speculation that Greek debt will be restructured and the fact that the official end to the U.S. Federal Reserve's QE2 programme which is now less than eight weeks away," the report noted. In contrast bond funds around the world took in a net $4.59 billion.
Source: PTI
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