EMERGING MARKETS INVESTOR: NEWS
By Gordon Platt
Investors dumped money market funds in January and shifted into higher-yielding equity funds, according to EPFR Global.
"The emerging-markets equity funds we track have had their best start in six years," says Brad Durham, global MD at EPFR. During the final week of January, equity funds flows tracked by EPFR hit a 43-week high.
Retail investors steered money into Emerging Europe equity funds for the first time in more than six months.
Flows into commodities went to funds specializing in gold and precious metals. Russian equity funds benefited from renewed interest in commodities and prime minister Vladimir Putin's latest pledges to improve the country's investment climate.