May 2, 2014 / 9:21 AM / in 4 years

Emerging funds receive new money for fifth week -EPFR data

LONDON, May 2 (Reuters) - Investors put new money into emerging market funds for the fifth straight week although the pace of equity inflows slowed sharply, banks said on Friday, citing data from EPFR Global.

The Boston-based fund tracker, which releases data to clients late on Thursday, said emerging equity funds had received $90 million in the week to April 30, much less than the $470 million they took in a week before.

Average weekly equity inflows were around $2.4 billion for the three weeks before that, banks said.

Some $480 million flowed into emerging bond funds in the week to April 30, rising slightly from last week’s $160 million.

The latest figures bring year-to-date outflows from emerging equity funds tracked by EPFR to just over $30 billion, more than double total 2013 outflows of around $14 billion.

Bond funds have shed $8.8 billion this year after outflows of $14 billion in 2013.

Developed equity funds meanwhile reported inflows of $3.8 billion, banks said, with European funds posting the largest inflows of just over $2 billion. (Reporting by Sujata Rao; Editing by Catherine Evans)

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