Flows to emerging equity funds turned negative in the week to May 7 after five consecutive weeks of inflows although bond funds received fresh cash, 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 shed $740 million after absorbing cumulative inflows of $7.6 billion in the five weeks before.
But debt funds took in $650 million, rising from the previous week’s $480 million inflow.
The latest figures bring year-to-date outflows from emerging equity funds tracked by EPFR to around $31 billion, more than double the total 2013 outflows of around $14 billion.
Bond funds have shed just over $8 billion this year after outflows of $14 billion in 2013.
Developed equity funds meanwhile also reported outflows of $8.9 billion, banks said, with U.S. funds posting the largest losses of $11 billion. (Reporting by Sujata Rao; Editing by Catherine Evans)