Brazil Equity Outflows Accelerate

Investors have continued to pull out their cash from the Brazilian equity market with net foreign investment outflows totaling BRL14.4bn YTD, according to Itau which cites Bovespa figures. In the week ended July 29 BRL1.192bn exited the country’s exchange. In the week ended July 30, Brazil equity funds as tracked by EPFR lost a marginal $2.1m. LatAm outflows clocked in at a substantial $205.1m, in sync with GEM funds, which lost $652.9m says Itau, citing EPFR.