Preserving the political risks in Russia are forced to Western investors withdraw funds from the Russian market and invest in other developing countries. According to Emerging Portfolio Fund Research (EPFR), in the last week of the funds investing in Russia, was derived $ 43 million, which is only $ 3 million less than the total amount of funds raised funds this year.
EPFR data indicate a growing interest of foreign investors in emerging markets. For the week ending January 25, funds, investment policy which is aimed at such markets, attracted $ 3.5 billion, $ 1.53 billion in more than in a week ago ($ 1.93 billion). From the beginning, funds raised more than $ 7.7 billion inflow of funds occurs in the category of GEM, which last week drew nearly $ 2.2 billion, and the beginning of the year supplemented by nearly $ 5 billion
At the same time, funds investing in Russia and CIS countries, after a two-week hiatus, began to lose customers. According to EPFR for the past week, one was withdrawn $ 43 million, more than three exceeds the amount of funds attracted by the previous week ($ 13 million). Outflow of investment funds last week almost entirely due to repayments of traditional units of funds from which investors took $ 90 million, with the ETF funds managed to raise $ 47 million, analysts say "Uralsib". As a result, Russian funds have only $ 3 million in new funds raised this year.
Loss of interest of foreign investors to Russian assets was due to the continuing political risks at home. "There are fears that the demonstrations that took place after the elections to the Duma and may recur after elections on 4 March," - said the portfolio manager "Alliance ROSNO Asset Management" Oleg Popov. These fears have added uncertainty and make some of the most conservative investors await the completion of elections in Russia. According to the analyst TCB Capital Sergei Karyhalina, the political situation in the country is fraught with uncertainty - until elections are held and does not become clear priorities for future policy. "In such circumstances it is natural that foreign investors prefer Russia to other markets - those countries that hold clear policy and seek to improve the investment climate, - said Mr. Karyhalin - If the situation changes for the better after the election - investors need to pay attention to our market ". "Investors who choose not matter to them of important definitions, and hence predictability," - Oleg Popov stressed.
Despite the renewed outflow of liquidity from foreign investors, Russia's stock market seemed more confident in comparison with markets in both developing and developed countries. Since the beginning of the week the RTS index rose by 4.7%, rising to around 1566.33 points. Because of the ruble against the dollar by 3.3%, the MICEX index gained just 1.5%, rising to around 1514.6 points. At the same time the leading Asian indices from the beginning of the week increased by 0.8-1.3%, 1.2-2% in Europe, U.S. at 0.2-0.7%.
EPFR data indicate a growing interest of foreign investors in emerging markets. For the week ending January 25, funds, investment policy which is aimed at such markets, attracted $ 3.5 billion, $ 1.53 billion in more than in a week ago ($ 1.93 billion). From the beginning, funds raised more than $ 7.7 billion inflow of funds occurs in the category of GEM, which last week drew nearly $ 2.2 billion, and the beginning of the year supplemented by nearly $ 5 billion
At the same time, funds investing in Russia and CIS countries, after a two-week hiatus, began to lose customers. According to EPFR for the past week, one was withdrawn $ 43 million, more than three exceeds the amount of funds attracted by the previous week ($ 13 million). Outflow of investment funds last week almost entirely due to repayments of traditional units of funds from which investors took $ 90 million, with the ETF funds managed to raise $ 47 million, analysts say "Uralsib". As a result, Russian funds have only $ 3 million in new funds raised this year.
Loss of interest of foreign investors to Russian assets was due to the continuing political risks at home. "There are fears that the demonstrations that took place after the elections to the Duma and may recur after elections on 4 March," - said the portfolio manager "Alliance ROSNO Asset Management" Oleg Popov. These fears have added uncertainty and make some of the most conservative investors await the completion of elections in Russia. According to the analyst TCB Capital Sergei Karyhalina, the political situation in the country is fraught with uncertainty - until elections are held and does not become clear priorities for future policy. "In such circumstances it is natural that foreign investors prefer Russia to other markets - those countries that hold clear policy and seek to improve the investment climate, - said Mr. Karyhalin - If the situation changes for the better after the election - investors need to pay attention to our market ". "Investors who choose not matter to them of important definitions, and hence predictability," - Oleg Popov stressed.
Despite the renewed outflow of liquidity from foreign investors, Russia's stock market seemed more confident in comparison with markets in both developing and developed countries. Since the beginning of the week the RTS index rose by 4.7%, rising to around 1566.33 points. Because of the ruble against the dollar by 3.3%, the MICEX index gained just 1.5%, rising to around 1514.6 points. At the same time the leading Asian indices from the beginning of the week increased by 0.8-1.3%, 1.2-2% in Europe, U.S. at 0.2-0.7%.
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