LatAm Equity Suffers Biggest Redemptions

LatAm equity funds suffered redemptions of $504.0m in the week ended August 13, according to EPFR Global, which calls it the week’s worst performing major fund group. LatAm posted a collective 6.26% loss, extending a 10-week, $3.45 billion losing streak that has been fueled by steady outflows from Brazil equity, says EPFR. Brazil funds lost $47.0m, which helped bring AUM to $12.3bn. So far this year, Brazil funds have seen net inflows of $257m. “With some commodity prices hitting 6-month lows and the price of oil dropping briefly below $113 a barrel, investors pulled more money out,” says the service. The asset class as tracked by EPFR has a total $27.9bn in assets under management (AUM) and has lost $1.81bn so far this year.