Emerging market funds see second week of net inflows - Polish brokers |
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Fri, 29 Jun 2007 12:45
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WARSAW (Thomson Financial) - Emerging market funds posted their second straight week of net inflows in the week to June 27, reports by Polish brokerages UniCredit CAIB and BZ WBK showed, with three quarters of fresh capital poured into Latin American equities.Inflows to emerging markets equity funds eased to 913 mln usd from 1.43 bln a week earlier, the brokerages said. Latin America-dedicated funds attracted 678 mln usd in new money, including 420 mln usd for Brazil.Latin America equity markets have seen 15 straight weeks of inflows, putting the total year-to-date figure at 4.9 bln usd.Europe, Middle East and Africa (EMEA) funds were the biggest losers last week with negative flow balance of 56 mln usd, putting the group down 2.2 bln usd so far this year.The bulk of the redemptions came from the Emerging Europe Regional (EER) funds, the largest global investor group committed to Poland, which saw a 53 mln usd outflow, or double the amount from a week before.'Since the beginning of 2007 1.803 bln usd has evaporated from EER funds,' BZ WBK brokerage said in a report.Poland saw a 9 mln usd outflow last week, its third straight week of net redemptions, and the negative balance for three major central European equity markets, which also include the Czech Republic and Hungary, stood at 16 mln usd.BZ WBK said data showed that international fund managers sold 55 mln usd of Polish equities in May. They also pulled 82 mln usd and 184 mln usd from Czech and Hungarian equities, respectively.piotr.skolimowski@thomson.com +48 22 447 24 36ps1/amCOPYRIGHTCopyright 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 net inflows after 3 weeks in red - Polish brokers 