Russian country funds lose USD 96mn on week ending Aug 7.

By bne IntelliNews August 11, 2013

Investment funds oriented on buying Russian shares lost USD 96mn in total assets under management (or 0.83% w/w) on the week ending August 7, Uralsib Capital reports according to Emerging Portfolio Fund Research data. On the preceding week Russian country funds lost USD 40mn. Three weeks before USD 102mn inflow was seen, which made the largest gain since mid-May. EMEA-oriented funds inched up by USD 7mn on the week ending August 7.

Since the beginning of 2013 outflow from Russian country funds is at about USD 1.62bn or 12% of all funds under management.

Uralsib Capital analysts believe that August is a less stable month for Russian fund. However, the situation might improve on the early positive signs from Europe. The data of the past weeks showed continuous stalled trend in capital movement. Capital flows were modest and changing directions almost every week. Previously last month the analysts of UralSib bank expected possible positive dynamics for Russian equity in short-term and mid-term perspective.

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