Flows to EM funds drop in latest week -banks, citing EPFR data
LONDON, April 25 (Reuters) - Emerging-market funds took in new money for the fourth straight week, but the pace of the inflow appears to be flagging, banks said on Friday, citing data from EPFR Global.
The Boston-based fund tracker, which releases data to clients late on Thursday, said emerging equity funds had received $420 million and bond funds took in $160 million in the week to April 23.
Banks noted that the latest weekly inflows were far below the $2.4 billion average of the past three weeks. Before the month-long inflow, emerging equity funds had shed money for 22 consecutive weeks, losing more than $50 billion.
"It is early to call for a turnaround in portfolio flows into EM, with growth yet to recover and China risks remaining," analysts at Barclays said, noting the weak factory data from China earlier this week.
Developed equity funds reported inflows of $2.2 billion. Europe took in $2 billion. U.S. funds suffered modest losses. (Reporting by Sujata Rao; Editing by Larry King)
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