LatAm, Brazil Equity Funds See Inflows

LatAm equity funds took $182.8m in new funds in the week ended April 9, according to EPFR Global. Brazil equity funds also received $42.4m, raising total assets under management for that country by 3.1% to $13.7bn. The positive performance was echoed more broadly in EM, with GEM equity funds posting their best week in 2008 following two consecutive positive weeks. “Our daily fund flows data indicated something of an inflection point for emerging markets funds during the last week of March and a clear one for Europe equity funds on April 2,” says EPFR MD Brad Durham. EMEA equity funds, however, were negative for the fourth time in the past five weeks on concerns of current account deficits in places like Turkey, South Africa and Eastern Europe.