Wednesday, June 19, 2013
WSJ on Emerging Markets
June 19 WSJ
.....Investors who are sticking with emerging markets said it is mostly short-term traders behind the recent selling. Of the most recent outflows from emerging-market stock funds, 70% came out of exchange-traded funds, vehicles widely used by individual investors, according to analysis of data from EPFR Global.
"You have a lot of investment tourists in emerging markets' local markets, and they decided…that their visas don't have much time left on it and they want to go back home," said David Rolley, co-head of global fixed income at Loomis, Sayles & Co., which manages $191 billion.
The article includes this interesting graph