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J.P.Morgan Weekly Flow Overview

EMERGING MARKETS

J.P.Morgan note that in the week ending 19 May "EM bond flows were +$282mn (+0.05% of weekly AUM vs. +$1.3bn in the prev. week); EM equity flows were -$30mn (-0.00% of weekly AUM vs. -$203mn in the prev. week)."

  • "YTD flows to EM bonds and equities +$34.4bn and +$80.3bn, respectively. Incorporating April's monthly data results."
  • EM bond funds' overall inflows "fell substantially this week as hard currency bond funds reverted back to outflows after six weeks (-$118mn) and local currency bond fund inflows fell (+$400mn). The local currency bond fund inflows were all into China-related bond funds (+$555mn) as EM ex-China local currency bond funds had outflows (-$155mn)."
  • EM equity funds had "their second consecutive week of small outflows (-$30mn vs. -$203mn in the prev. week) driven by ETF funds (-$172mn) as non-ETFs attracted inflows (+$142mn). Within regional equity funds, Asia ex-Japan outflows increased for the third week in a row to -$1.2bn (-$840mn in the prev. week); both EMEA and Latam similarly had small outflows (-$54mn and -$122mn, respectively)."
  • Looking to non-resident EM portfolio flows, "EM local bonds had outflows (-$1.0bn vs. +$478mn in the prev. week), led by Indonesia (-$763mn) and Hungary (-$323mn). Non-residents net outflows from EM equities slowed down (-$2.9bn vs. -$5.6bn in the prev week), led by Korea (-$2.7bn) which were partly offset by inflows into Brazil (+$718mn)."
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
BulletEM BulletEmerging Market NewsHomepage
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
BulletEM BulletEmerging Market NewsHomepage

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