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Investors pour $437 mn in Asia equity funds; India sees inflows

This article was posted on Jan 18, 2009 and is filed under Press Releases

NEW DELHI: Global investors poured in 437 million dollars in Asia equity funds following an increase in risk appetites, with India-focused funds seeing inflows for the second week in a row this month despite the fallout of the Satyam fraud. Emerging markets equity funds again managed to attract solid inflows in the second week of January, with the diversified Global Emerging Markets (GEM) and Asia (excluding Japan) equity funds emerging as biggest contributors.. as per data complied by international fund tracking firm EPFR Global.

Asia equity funds witnessed inflows of 437 million dollars, while GEM took in 820 million dollars and Latin America funds saw 11 million dollars influx, the report said.

“India Equity Funds also posted modest inflows for the second straight week despite the fallout of the Satyam accounting scandal,” EPFR said.

Flows into Asia ex-Japan Equity Funds were once again dominated by China equity funds, which absorbed as much as USD 344 million in the week ended January 14.

Meanwhile, US global equity markets suffered severe chills, with EPFR global-tracked equity fund groups posting losses, ranging from 5.2 per cent for Japan equity funds to 10.6 per cent for Latin America equity funds, on their collective portfolios.

The report stated that losses in the US were not enough to snuff out the modest increase in risk appetite seen over the past few weeks.

At the country and regional level, China equity funds took in fresh money for the seventh time in the past nine weeks, and enthusiasm for China’s economic momentum and aggressive stimulus package spilt over into Greater China equity funds and Taiwan equity funds.

On the sectoral front, real estate sector funds, despite collective portfolio losses of over 11 per cent, attracted the biggest inflows (49 million dollars), while energy, technology, telecom, healthcare/biotechnology sector funds posted outflows of 236 million dollars, 55 million dollars, 9 million dollars and 8 million dollars, respectively.

source: Economictimes

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