Aug. 30 – Russia and CIS-focused funds saw higher inflows than other BRIC countries, data from Emerging Portfolio Fund Research showed yesterday.
Russia funds saw inflows of US$80 million in the week to August 23, after reporting US$77 million in outflows the previous week.
Russia and CIS-funds outpaced inflows for other BRIC economies, with Brazil’s funds posting US$11 million, India’s funds recording US$15 million, and China’s funds reporting outflows of US$200 million.
The volume of last week attracted investments was substantially low compared to the spring of 2010 amid stronger global markets and higher oil prices. During some weeks, inflow to Russian-dedicated funds reached US$350 to US$400 million.
“Long-term funds were active in auctions in the beginning of spring when the market was full of optimism. Now they remain motionless,” Dmitry Sadovyj from SI Capital said to Russian daily Kommersant.
Experts do not doubt investor activity will remain low through till the middle of September.
In the first half of the year, Russia led its peers in terms of inflows, drawing over US$2 billion in new money.
