Institutional accounts lead stampede out of EM equity amid “confidence crisis”
Investors pulled $6.3bn from EM equity funds in the week to January 29, the largest weekly equity outflows since August 2011, Barclays said. Institutional accounts were responsible for more than 80% of the EM equity outflows, an industry source said. That bucks a trend for institutional investors to keep putting money into emerging market funds despite a sharp exodus in 2Q13 and despite retail cash’s continued exit. It reflects wariness about...
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