LatAm Equities Shed Funds

In the week ended April 13, LatAm equity funds shed $163m, according to EPFR Global, which says this is the 12th time in the past 13 weeks the funds experienced redemptions. The funds “ran into fresh headwinds as Brazil expanded its capital controls and nationalist Ollanta Humala, seen by many as a man in the same mold as the current leaders of Venezuela and Bolivia, emerged as one of the two candidates for June’s run-off for Peru’s presidency,” it says. Brazil funds saw outflows of $89m and GEM funds gained $1.6bn. As for performance, Lipper data show a weakening in LatAm funds, which were down 3.08% in the week ended April 14 and down 1.80% year-to-date. EM funds were down 1.43% in the week, but are still up 1.85% ytd. Global small and mid-cap funds dropped 0.85% in the week, but are still up 4.25% ytd.