April 4, 2015
Recent data Emerging Portfolio Fund Research (EPFR) for the week ending April 1, show a decrease in interest from international investors in the Russian stock market. In general, for a week outflow of funds from investment funds that invest in Russia amounted to $ 39.2 million, which is five times the volume of funds received the previous week. Nevertheless, since the beginning of the year remains positive result – the flow of funds in the amount of $ 276 million. “These EPFR confirmed that in recent weeks, there are no significant factors that are” dragged “to the cash flows in one direction or another,” – said the managing director of IG Trinfiko Egor Krotkov.
Outflow of funds from Russian funds comes amid renewed investment inflows to developing countries. According to EPFR, all emerging markets funds for the reporting week raised $ 256.6 million, which is more than three times the outflow recorded the previous week.
The anomalous behavior of investors in the Russian market is primarily due to the increased volatility in the oil market.
“Quotes of oil during this period were very volatile: first on the market had increased significantly under the influence of the news from Yemen, then a decrease, mainly under the influence of news have reached an agreement in Iran and the possible lifting of sanctions, the EU and the US on Iran,” – said the head analytical department of the Criminal Code “Ingosstrakh – Investments” Eugene Vorobiev. According to him, the removal of the oil embargo on Iran could lead to an increase in supply in the world oil market, and these factors have a negative impact on the stock nefti.Nesmotrya on renewed outflow of foreign investments from Russia, the domestic stock market was among the top gainers among the developed and emerging markets . Since the beginning of the week the RTS index rose by 8.4%, rising to the level of 934 points. MICEX index rose by 6.4%, to the level of 1680 points.
Vitaly Gaydayev
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