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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
EMERGING MARKETS
Highest Level of Emerging Market ETF Weekly Withdrawals in 11 Months, Led By Brazil
- Brazilian political and fiscal noise prompted a swift reduction in funds that track stocks in Latin American's biggest economy.
- The risk of fiscal slippage and building conflict between the nation's executive and judicial branches drove money managers to pull $158.2 million out of Brazilian equity ETFs in the week ended Aug. 13, despite positive company earnings. This was the main contributor to the largest weekly outflow from U.S.-listed emerging-market ETFs since last September.
- Withdrawals from funds that invest in stocks and bonds across developing nations as well as those that target specific countries totalled $345.4 million last week, compared with gains of $189.7 million the week before, according to data compiled by Bloomberg.
- This represented just the second week of outflows since a significant inflow streak was initiated in late October 2020.
- ETFs from China were the second-biggest losers last week, the data show. Money managers withdrew $119 million from the $2.2 billion Xtrackers Harvest CSI 300 China A-Shares ETF, known as ASHR.
- Stock ETFs contracted by $408.4 million, however, EM ETFs that invest in bonds, gained $63 million last week. The MSCI Emerging Markets Index closed down 0.9 percent from the previous week at 1,280.86 points.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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