Emerging-market equity funds took in the most cash in more than 15 months in the week ended Feb. 8, as indications Greece would forge a bailout deal and better- than-estimated U.S. unemployment data buoyed markets, according to EPFR Global.
The funds saw inflows of $5.8 billion during the week ended Feb. 8, the most since October 2010, according to a report e- mailed today by Cambridge, Massachusetts-based EPFR. The surge brought net investment into developing-nation equity funds in 2012 to $17 billion, compared with outflows of $11.4 billion for the same period of 2011.
So-called Global Emerging-Market funds, or GEM funds, absorbed a record $5.4 billion of the new commitments to overall developing-nation funds, the report showed. The average emerging-market equity portfolio recorded a 2.7 percent gain, Cameron Brandt, EPFR’s director of research, said by phone.
Funds dedicated to the biggest emerging markets of Brazil, Russia, India and China saw their biggest weekly inflows since the end of 2009. Emerging-market stock funds posted a net outflow of $48 billion in 2011, Brandt said.
Inflows into emerging-market bond funds amassed a record $2.14 billion of flows in the week, according to the report.
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