Weekly outflow from Russia funds reaches $177 mln
The net outflow from Russia-focused funds increased to $177.5 million in the week of September 6-12, Uralsib Capital said in an analytical survey, citing data from Emerging Portfolio Fund Research (EPFR).
The outflow from Russian funds in the preceding week was $50.6 million, RIA Novosti reported.
The latest outflow was the second largest weekly total this year and compares to inflows recorded by funds focused on the other members of the BRIC group: China ($239 million), Brazil ($214 million) and India ($18 million).
But Uralsib Capital said the outflow would be temporary, since a new round of quantitative easing in the United States will likely lead to higher commodity prices, boosting Russian equities. Moreover, the flow of investment into Russian assets will strengthen as the European Central Bank moves to shore up the macroeconomic situation in the EU, the analysts said.
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