Capital outflow from funds investing in Russian stocks resumes, totals $40 mln - experts
MOSCOW. Aug 2 (Interfax) - Capital outflow from funds investing in Russian stocks resumed in the week of July 25 to July 31, totaling $40 million, compared to inflow of $12 million the week before, according to Emerging Portfolio Fund Research (EPFR) data.
From the beginning of this year to July 31, total outflow from funds investing in Russian stocks was $1.697 billion.
According to analysts at investment company Uralsib Capital, these data demonstrate the continued lack of a trend in fund flows on the Russian market. Capital flows are minor and change direction almost every week.
"Even though Russian funds have yet to attract substantial funds, Russia is not an outsider among emerging markets. The July result of cash inflow was the second largest since last September; only May was a better month. Thanks to record inflows into ETF (exchange traded funds), the net quantity of funds flowing into Russian funds totaled $315 million. We still see good chances of inflows strengthening in the third quarter of 2013," Uralsib Capital said in a report.
