Emerging bond funds take $1bln for 9th inflow week -EPFR data
LONDON May 30 (Reuters) - Emerging bond funds took in new money for the ninth week in a row, receiving just over $1 billion over the past week, 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 just over $500 million in the week to May 28, less than the $902 million they attracted during the previous week.
The bond flows included $722 million received by hard currency debt while local currency bond funds absorbed around $242 million.
Cash has been returning to emerging markets after huge outflows in 2013 and early 2014. Data from the Institute for International Finance (IIF) showed on Thursday that stock and bond investors had poured $45 billion into emerging markets in May, the highest amount since September 2012.
But year-to-date outflows from emerging equity funds tracked by EPFR still stand at around $28.5 billion, more than double total 2013 outflows of $14 billion.
Bond funds have shed around $5.5 billion this year after outflows of $14 billion in 2013.
On the developed equity front, meanwhile, banks said European funds had seen their first week of net redemptions following 47 straight weeks of inflows. They shed $184 million after cumulative inflows of almost $90 billion. (Reporting by Sujata Rao; Editing by Catherine Evans)
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