LatAm Equity Fund Flows Hold Up

LatAm equity funds were less harmed than other EM investors by an exodus from the asset class, according to data from EPFR Global. LatAm lost around 0.1% of assets in the second week of March, much less than most EM, where investors fretted about the loss of export competitiveness in the face of a slumping dollar. “Russia was the only one of the four BRICs (Brazil, Russia, India and China) markets to post inflows and BRIC equity Funds recorded outflows for the third time in four weeks,” says EPFR. “Flows out of Brazil country and Latin America regional funds were a minimal 0.01% and 0.02% of assets under management, reflecting the region’s close correlation with commodity prices,” it adds.