Outflow of funds from Russian equity funds reached a maximum 5 years
Friday, 20 May 2011 11:37 MSD Print [-] Text [+]
MOSCOW (Reuters) – Investors withdrew from investment funds in Russian equities in a week, record amounts over the past five years, against the backdrop of outflows from all groups of funds in emerging markets, analysts of Uralsib and VTB Capital write with reference to EPFR Global.
Investment funds in Russian equities experienced an outflow of $353 million per week, completed 18 May. This is the most significant loss of this group of funds with 2006 of the year, say analysts of Uralsib. Over the previous week, the outflow from these funds amounted to $71 million.
Considering the share of Russian shares in regional funds, losses increased to $454 million, calculated by VTB Capital analysts.
Страновые фонды ETF, which this year were one of the main sources of new funds inflow to the Russian market, this time became the leaders in terms of the volume of redemptions, which made $310 million.
Russian indices MICEX and RTS lost in a week 1,7 percent and 3 percent respectively.
Withdrawals of funds by investors during the week were observed from almost all groups of funds in emerging markets. The net outflow of their funds to invest in emerging market equities was $1,6 billion.
(Zlata Garasyuta. Editor Anton Zverev)
