Capital outflow from funds investing in Russian shares restarts for July 12-18 and reaches $52 mln - EPFR
MOSCOW. July 20 (Interfax) - Removal of capital from funds investing in Russian shares restarted in the week of July 12-18 and came to $52 million compared to $51 million in inflow for the previous week, according to Emerging Portfolio Fund Research (EPFR).
Therefore, inflow between the start of this year and July 18 totalled $735 million.
"Analysis of investment flows on the global level also indicates a worsening situation compared to the previous week: outflow of funds were posted in almost all categories of emerging market funds. EMEA funds reported net outflow at $53 million after three weeks of inflow. Outflow restarted from Asian regional funds (minus $303 million compared to inflow of $150 million in the previous week). Investors removed $242 million from Latin American funds (last week asset results under this management remained practically unchanged). GEM (Global Emerging Market) funds also did not fair better as outflow came to $199 million, which was the first negative result for seven weeks," Uralsib Capital analysts said in a note.
In addition, the note said that the analysts still believe that heightened volatility on the Russian stock market will appear in the coming several weeks along with a lack of any clear market trend.