Global investors have poured in over $794 million in Asia-dedicated equity funds in the first week of April as India-focussed funds broke their 11-week outflow streak.According to the data complied by international fund tracking firm EPFR Global, all the Asia - excluding Japan - equity funds enjoyed another solid week, driven by investors' faith in China's growth story.
"It was the best week of inflows for Asia ex-Japan equity funds since April 2008. More than half of the $794-million of weekly inflows were received by China Equity Funds," the EPFR report stated.
India-focussed equity funds snapped an 11-week outflow streak, while at the country and sub-regional level both Brazil and China Equity Funds recorded inflows in excess of $400 million, it added.
Further, all emerging market equity funds tracked by EPFR took in $2.2 billion of inflows during the week, or 0.9 per cent of their total assets, and bringing inflows to date this year to $5.4 billion.
"This is the fifth week in a row we've seen this combination of positive net flows into funds dedicated to emerging markets equity and the riskiest kind of bonds," EPFR Global managing director Brad Durham said.
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