28 de febrero de 2014 / 8:03 / en 4 años

Emerging bond and stock funds shed almost $5 billion

LONDON, Feb 28 (Reuters) - Emerging bond and equity funds suffered outflows of almost $5 billion over the past week, bringing their combined year-to-date losses to over $37 billion, banks said on Friday, citing data from EPFR Global.

The Boston-based fund tracker, which releases data to clients late on Thursday, said that $3.05 billion had fled emerging equity funds in the week to Feb. 26, accelerating from the previous week when $1.56 billion had fled.

That brings year-to-date losses from equity funds to $26.4 billion, versus $15 billion for the whole of 2013 for funds tracked by EPFR.

The 18 lossmaking weeks have brought cumulative outflows in this period to over 41 billion.

The past week has seen an escalation in turmoil in several parts of the world, particularly Ukraine where the government was ousted by the pro-West opposition, prompting a defiant response from neighbouring Russia.

Analysts at Barclays said the volatility in the Chinese yuan had also contributed to the jitters. The yuan posted its biggest ever daily fall against the dollar on Friday as the central bank continued to engineer it weaker.

“Negative sentiment towards China is likely to remain a headwind from a flows perspective, especially driving out retail money. The recent yuan weakness probably contributed to this negative sentiment as well,” Barclays said.

Emerging bond funds meanwhile posted outflows of $1.8 billion, bringing total year-to-date losses to $11 billion. Last year’s outflows amounted to $14 billion.

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