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. 

Related Articles

Erdogan warns Iraqi Kurds will lose “opportunities” if independence vote proceeds

Turkish President Recep Tayyip Erdogan has warned the Iraqi Kurds that it is in their interests to call off their planned September 25 independence referendum because it “may lead to a process that ... more

Russia’s Rosneft mulls Kurdistan-Turkey-Europe gas pipeline

Russia’s Rosneft is exploring the possibility of building a 30bn cubic metre (bcm) pipeline that would from 2020 deliver natural gas supplies from the Iraqi Kurdistan region to Turkey and ... more

Turkish shipper Palmali lodges near-$2bn English High Court claim against Lukoil trading arm

Turkey-based Palmali, one of the biggest shippers in the Caspian region, has reportedly lodged a claim with the English High Court worth almost $2bn against Litasco, Russian oil producer Lukoil’s ... more