Global uncertainties have made investors look East, as they have poured in $2.4 billion into emerging market equity funds during the week ending November 24, taking the total inflow so far this year to a record $84.3 billion.
According to data compiled by international fund tracking firm EPFR, during the week ended November 24, $2.4 billion flowed into emerging markets funds, taking year-to-date flows to $84.3 billion, ahead of last year's record inflows of $83.3 billion.
EPFR said "with temperatures rising on the Korean peninsula and falling in debt-wracked Ireland" investors committing more money to emerging markets equity funds, thereby pushing them into record setting territory.
Overall, the EPFR Global-tracked equity funds absorbed a net $4 billion during the week ending November 24.
Emerging Markets Bond Funds however, snapped the inflow streak posted collective outflows of $735 million, largely due to the first back-to-back weeks of net redemptions for US Bond Funds since the fourth quarter of 2008.
Investors snapped "the lengthy inflow streak compiled by Emerging Markets Bond Funds and hammering US Municipal Bond Funds for the second straight week," EPFR added.
