EM exodus picks up pace

EM exodus picks up pace

Funds

The pace of outflows from EM bond funds doubled last week as Federal Reserve chairman Ben Bernanke’s comments on tapering quantitative easing walloped credit markets. EM dedicated bond funds lost $5.57bn in outflows during the week to June 26, more than double the $2.64bn of outflows the previous week, according to EPFR. EM equity funds lost $5.62bn in outflows, while the exit from LatAm equity funds slowed somewhat, to $149m from $493m the previous week. “The current period of outflows from EM

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