Rus News Journal

Capital movement: inflow of means to funds of the Russian Federation runs low

Inflow of means of the western investors to funds of Russia and the CIS past week has decreased to 0,7 million dollars after 14 million dollars week before. From the beginning of current year on August, 11th inflow of the capital to funds of the Russian Federation and the CIS has made 2,08 mlrd dollars, thus on the markets of developing countries as a whole has arrived 32,3 mlrd Figure dollars rather modest in comparison with pre-crisis levels, however from - for the seasonal factor in the summer traditionally there is a decrease in activity of the western investors and, accordingly, reduction of inflow of the capital.

as the analyst " marks; Uralsib Kepital Andrey Bogdanovich, pure inflow of means last week was observed in all funds, except Latin American and Indian. According to EPFR for the week which has come to the end on Wednesday, on August, 11th, cumulative pure inflow of means to funds of emerging markets has reached 2,2 million dollars Having decreased in comparison with a record indicator of previous week - 4,2 mlrd dollars Funds GEM which have become by the superstar of week, come to the end on August, 4th when they have shown the biggest inflow for last seven months - 3,6 mlrd dollars, have a little exhausted and for accounting week have involved only 1,6 mlrd dollars Inflow of means to the Asian funds has increased to 547 million dollars from 395 million dollars week before. In funds EMEA the volume of the arrived capital has increased slightly - from 85 million to 148 million dollars at a rate of 75 million dollars only Latin American funds which a week previous past, have involved 121 million dollars of new means have shown Pure outflow of means.

the trend changes, ascertains A.Bogdanovich. Within accounting week the ascending tendency in the world markets of actions was replaced on descending in connection with the publication of the worst, than it was expected, the macroeconomic data across the USA and reduction of prices on the raw goods. However, despite Turbulence at the auctions, investors continued to put means in funds of emerging markets, though and in smaller volumes, than before. For accounting week inflow of means to the Chinese funds was reduced to 4 million dollars from 110 million dollars week before. Outflow of means from the Indian funds has proceeded, but has made only 48 million dollars, or 0,2 % from a cumulative portfolio, in comparison with 82 million dollars last week. Inflow of means to the Brazilian funds too has gone on recession, having reached 9 million dollars, or 0,05 % of a portfolio, against 35 million dollars week before. The Same tendency was observed in funds of Russia and the CIS where pure inflow has decreased to insignificant size, having made less than 1 million dollars, or 0,01 % of a portfolio, from 14 million dollars following the results of previous week.

according to the expert Uralsib Kepital uncertainty grows. The worst, than it was expected, macroeconomic indicators of the USA have called into question stability of postcrisis restoration of world economy, and volumes of investments in investment funds began to be reduced. The risk of the further delay of growth remains high so it is possible to expect the subsequent reduction of inflow of means in funds EM - has underlined A.Bogdanovich.

as a whole bring the contribution to dynamics of receipt of the capital to the Russian funds the future quarter revision of indexes MSCI Global Standard planned for August, 17th 2010 can. (Changes will enter from the moment of market closing on September, 1st 2010.) . It is expected that MSCI Barra can exclude actions a gold Pole and Raspadsky from indexes MSCI and to include in them papers of Holding MRSK and MMK. As a result of it will occur rebalansirovka portfolios of the global investors who are guided by indexes MSCI. And it will in turn be reflected in dynamics of the capital. However essential influence of this factor on character of dynamics of the capital it is not expected.
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