EM debt, equity funds hit

EM debt, equity funds hit

Funds

Emerging market debt and equity funds were hit hard last week as a slump in the Argentine peso Thursday caused widespread panic across the asset class (see separate story). Emerging market hard currency and local currency bond funds lost 0.61% and 1.29% respectively in the week to January 23, down from gains of 0.42% and 0.03% the previous week, according to Lipper. The US Federal Reserve’s meeting, scheduled for Tuesday and Wednesday this week, may have contributed to the poor performance as in

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