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 (GEM) 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 funneled $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.
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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.