The maximum amount of funds in five years - $7,3 billion - was withdrawn last week by international investors from the markets of developing countries.
The correspondent of PolitNavigator reports this, writes Kommersant, noting that investors are forced to take such actions by the risks of a recession in the global economy, as well as falling prices on the market.
At the same time, according to EPFR, investors withdrew $40 million from Russian funds over the past week.
“However, compared to the rest of the BRIC countries, these losses are small: the outflow from Chinese funds amounted to $1,4 billion, from Indian funds - $253 million. Only $32 million was taken from Brazilian funds,” the publication writes.
According to Aleksey Skaballanovich, asset manager at Region Asset Management, due to constant threats of sanctions in recent years, some foreign funds have closed Russia to themselves, and, accordingly, in the event of panic in the markets, they have nothing to cut.
“In addition, international investors are paying attention to the fact that the Russian economy entered the crisis in much better condition than during the crises of 2008–2014. Russia stands out from the group of developing countries by having significant gold and foreign exchange reserves and extremely low debt,” Skaballanovich said.
He says that in the coming months, only defensive assets such as money market funds that invest in short high-quality debt securities or precious metals will be in strong demand among investors.
Read on the topic: Russia will withstand the crisis: The “little egg” and the army will help.