Emerging markets saw their second straight week of outflows |
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Fri, 10 Aug 2007 13:39
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WARSAW (Thomson Financial) - Emerging markets funds saw their second straight week of outflows in the week ending August 8, losing 627 mln usd compared to 1.98 bln a week earlier, as cash fled from global emerging market- and 'EMEA' funds, two Warsaw brokerages reported.'Equity markets around the globe are in the process of the largest price correction in six months, but emerging market investors have not shown clearer signs of nervousness yet,' a DM BZ WBK Warsaw brokerage report read.'During both May-June 2006 and February-March 2007 meltdowns we saw a massive reaction and record outflows once risk aversion erupted.'GEM and EMEA (Europe, Middle-East and Africa) funds showed net redemptions of 416 mln and 121 mln usd, respectively, while Latin America-dedicated funds and Asia ex-Japan funds saw only small outflows, of 16 and 73 mln usd respectively.Both DM BZ WBK and UniCredit (CA IB) brokerages noted Emerging Europe Regional funds, the largest international investor group committed to Poland, faced an outflow of 105 mln usd last week versus 234 mln the week before.According to their estimates, Poland's equity market saw an outflow of 21 mln usd.adrian.krajewski@thomson.com +48 22 447 2430ak1/jagCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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Emerging market funds see inflows jump on Asia strength - Polish brokers 