Economics
Emerging Stock Funds Post $1.5 Billion Outflows on Greece, China
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Emerging-market equity fund outflows slowed this week amid signs of an escalation in Europe’s debt crisis and weaker economic growth in China, Citigroup Inc. said.
Developing nations had $1.5 billion of outflows in the week ended May 23, according to Citigroup and Morgan Stanley reports today, citing data from fund researcher EPFR Global. There were net sales of $2.3 billion the previous week, Citigroup reported on May 18. Funds in Asia excluding Japan had the biggest redemptions of the year with outflows of $768 million in the most recent week, Citigroup said today.