Asian fund outflows up at $614 million during May 10-16 period
22 May 2007
There
have been some significant fund outflows in global markets,
reports CNBC-TV18.
In the May 10-16 period, Asia-dedicated funds had net
outflows worth USD 614 million versus USD 418 million.
Analysts say that May has historically been the worst
month for Asian fund flows. The net outflows for the past
three weeks are at USD 1.1 billion versus USD 1.3 billion
in May 2004.
During
the same period, the investors of Japan country funds
redeemed $885 million. This was the seventh straight week
of net outflows, which was at $2.86 billion. In Europe,
investors withdrew $949 million from West European equity
funds.
The US equity funds posted net outflows of $2.4 billion.
The year-to-date, or YTD, redemptions are over USD 6 billion.
Analysts say that large cap blend funds account for most
of the outflows and
only midcap value funds posted inflows.
Global equity funds had inflows worth USD 727 million
and the YTD inflows are worth USD 23.7 billion.
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