Worries about China drove more than $10 billion in funds from emerging markets this week, the biggest outflow in over seven years. Investors withdrew more than $4.5 billion from both Asia ex-Japan and the diversified Global Emerging Markets Equity Funds in the week ended Aug. 26, according to EPFR Global Thursday. Investors also redeemed over $1 billion from China Equity Funds. Developed Markets Equity Funds suffered redemptions with the Europe Equity Funds posting a net outflow after 14 straight weeks of inflow. The only exception was Japan Equity Funds which saw an inflow of about $3 billion during the week. U.S. Equity Funds, likewise, were in the red with Large Cap Equity Funds posting the largest redemptions. “Year to date, investors have pulled over $135 billion from U.S. Equity Funds with retail redemptions accounting for three-quarters of that total,” said EPFR in its statement.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News