Strong poll outcome drives inflows into India-focused funds May 22, 2009
Posted by dhirendra08 in Biggest Inflows, Decisive Mandate, Different Equities, Fresh Mandate.Tags: Asia Equity Funds, Brazil, Brazil Equity Funds, China, Coalition, Communist Parties, Congress, Dollar Terms, Election Results, Equity Funds, Global Investors, Highest Inflow, India, India Equity Funds, India-dedicated Funds, International Funds, Investors, Japan Equity Funds, Markets, Voters
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Good morning friends. Asia-focused equity funds saw the highest inflow of $933 million among other emerging markets in the third week of May, while India-dedicated funds benefited on the decisive mandate for the Congress-led UPA coalition in the election results.
“Asia ex-Japan Equity Funds again posted the biggest inflows among the four major emerging markets equity fund groups, in dollar terms, taking in USD 933 million for the week ending May 20,” international fund tracking firm EPFR Global said in a report.
Investors across the world have put in about USD 6.9 billion in Asia equity funds so far this year, it added.
At the country level, equity funds focused on India, China and Brazil witnessed strong inflows by global investors in the past week.
“India Equity Funds had their second best week year-to- date as voters gave the ruling Congress Party-led coalition a fresh mandate while leaving it less beholden to various Communist parties,” the EPFR report added.
Funds geared for China posted inflows for the eighth consecutive week, while investors shifted some of their focus to markets that supply China with raw materials, committing considerable amount to Brazil Equity Funds. -The Economic Times
