BRIC funds collectively have seen net outflows in every month since March 2010, according to data from fund tracker Thomson Reuters Lipper. Their combined assets have shrunk by a fourth to just over $28 billion from the record high of 2007. The cumulative net outflows under such funds since March 2010 has risen to $9.5 billion.
By comparison, funds investing in the Asia-Pacific outside Japan have seen inflows worth about $4 billion in the same period, reflecting investor preference for a broader investment theme to cut down on risk.
The fall from grace of the BRIC funds has been sparked by declining performance, policy tightening, capital controls in Brazil and a shift towards safety by investors.
"These kinds of funds were very trendy at launch, they remained trendy for a while and then the appetite of investors went down," said Francois Mouzay, head of fund development and services, Asia Pacific, for BNP Paribas Investment Partners... .
Read more about this at http://www.cnbc.com/id/44198859
No comments:
Post a Comment