LatAm Equity Funds Gain

LatAm equity funds gained 3.92% during the week ended March 27, according to Lipper. EM funds rose 4.06% while China region funds gained 5.15%, close to the biggest riser of the week, natural resources, with 5.33%. Financial services equity funds had the most significant drop of the week with 1.96%, says Lipper. However, LatAm equity funds saw outflows $1.5bn in the first quarter, while Brazil equity funds lost $579m, according to EPFR Global. The drainage was more severe what was seen in the same quarter a year ago, during which the losses for LatAm and Brazil were $238m and $144m, respectively. The only EM region to actually see equity inflows in Q1 was EEMEA, which gained a thin $157m. In total all of EM lost $20bn in funds, which paled in comparison to the $69bn that flowed out of all developed markets. Meanwhile, money market funds absorbed $141bn in the quarter, demonstrating a strong flight to quality throughout the period.