EM Outflows: Really…Another $3Bn?!?
As we hit the 18th consecutive week of outflows from EM equities the question begs - when is enough enough?
Clearly, hindsight doesn't tell you about the future, and in the case of how EM is trading we are in a better place than the numbers tell.
So here are the numbers:
- -$3Bn out form GEM Funds beating previous week (-$1.6Bn).
- 4 week moving average is -$1.9Bn.
- ETFs had outflows of -$1.3Bn while non- ETF funds saw -$1.7Bn.
- Overall during the outflow run the ETF (-$21.4Bn) vs. non-ETF (-19.4Bn) has been about in line, but as an overall % of total AUM for each, the ETF outflow (7.3%) has been much heavier than non-ETF (3.4%) as it is a smaller allocation.
- YTD all outflows from GEM funds has totaled $25.9Bn (vs. -$15.9Bn overall 2013).
Thanks to EFPR for the fund flow data.