Global investors continued to remain upbeat on the emerging BRIC (Brazil, Russia, India and China) nations and poured $2.1 billion in equity funds focused on the region in the third week of July, while India received $148 million.
According to the data complied by international fund tracking firm EPFR Global, the BRICs theme continued to resonate with investors with equity funds dedicated to the region receiving $2.1 billion inflows.
"Funds that invest in each of the four markets also absorbed fresh money, with China equity funds taking in $243 million, India equity funds $148 million, Russia equity funds $102 million and Brazil equity funds $82 million," the EPFR said in its report.
Overall inflows into emerging market equity funds rebounded during the third week of July as optimism about a recovery in US demand helped many individual equity markets gain between 3 and 8 per cent.
The diversified Global Emerging Markets equity funds received $1.08 billion, followed by Asia (excluding-Japan) equity funds which got $973 million, the report added.
The additional inflows of $516 million raked in by Latin America and EMEA ( Europe, Middle East and Africa) equity funds brought total weekly investment in all the emerging market equity funds to $2.6 billion, the strongest weekly inflow since June 10.
Investors funnelled $749 million into the EPFR global- tracked technology sector funds riding on several technology US bellwethers meeting or exceeding expectations for their second quarter earnings during the third week of July.
Besides, rising prices and softer dollar helped energy and commodity sector funds, while real estate sector funds pulled in fresh money for the first time in five weeks.
However, investors pulled $121 million out of consumer goods sector funds, $72 million out of healthcare/biotechnology funds, $9 million out of utilities sector funds and 8 million out of telecom focused funds.
