Global investors have poured in over USD 400 million in Asia dedicated equity funds in the third week of March, even as India-focused funds witnessed outflows for the ninth week in a row, a latest report says.According to the data complied by international fund tracking firm EPFR Global, the USD 409 million flushed in by Asia ex-Japan Equity Funds was mainly supported by flows into funds with regional or Greater China mandates.
"At the country and regional level Brazil equity funds took in net inflows for the eighth straight week, while India equity funds recorded their ninth consecutive week of outflows," the report stated.
Further, all emerging markets equity funds took in USD 350.3 million of net inflows during the week, their second straight week of inflows and reducing year to date total outflows to USD 266.4 million.
Overall investors committed a net 2.1 billion dollar to equity funds across the world, the EPFR report added.
While, Asia (excluding-Japan) equity funds posted inflows, the diversified Global Emerging Markets (GEM) equity funds recorded modest outflows and investors also pulled money out of EMEA (Europe, the Middle East and Africa) equity funds for the 31st time in the past 32 weeks.
The EPFR report stated that Russia equity funds snapped a five-week outflow streak but emerging Europe Regional, Middle East and Africa Regional equity funds recorded net redemptions for the 10th and 12th straight weeks.
Among the major sector fund groups those focused on financial, energy, technology and commodities all posted solid inflows.
Eight of the nine major EPFR Global-tracked sector fund groups attracted fresh money during the third week of March, financial sector funds were emerged as the best performing sector fund group with an eye-popping 22.9 percent gain.
Technology sector funds posted their first two-week inflow streak since the mid of third quarter of 2008 as they took in another 195 million dollar and utilities sector funds snapped a seven-week outflow streak.
The only fund group not to take in fresh money was health-care and biotechnology sector funds.
They posted outflows for a fifth straight week, surrendering 140 million dollar, as questions about the impact of potential reforms in the US and the depth of pharmaceutical pipelines dogged sentiment towards this sector.