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Flows into emerging markets funds slow ahead of US election

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With the focus on further quantitative easing in the US turning from “if” to “just how much” and the countdown to America’s mid-term elections in single digits, flows into emerging markets equity and bond funds slowed significantly during the fourth week of October.



While EPFR Global-tracked emerging markets equity and bond funds took in USD2.68bn and USD710m respectively for the week ending 27 October, those figures were around half the previous week’s totals.

Flows into commodity sector funds were less than a quarter as speculation mounted that the second round of easing might proceed at a slower than hoped for pace.

Also contributing to the sense of drift to the sidelines was the USD20.2bn that flowed into money market funds, a proxy for cash. That was a 14-week high for this fund group and the third highest weekly tally year-to-date.

The prospect of a more business-friendly House of Representatives helped US equity funds attract fresh money and healthcare/biotechnology sector funds record their highest weekly inflow since early September.

Overall, EPFR Global-tracked equity funds took in another USD6.44bn for the week. Bond funds absorbed USD4.74bn, taking YTD inflows over USD360bn.

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