Saturday, March 30, 2013

Investors shun Europe

Investors bailed out of both European and emerging market equities going into the last week of the first quarter over worries involving Cyprus's bailout and its impact on the euro zone crisis, EPFR Global data showed Friday.

Funds dedicated to Russia, which is exposed to declining commodity prices and the euro zone crisis, had their worst week since the third quarter of 2011, while emerging Europe equity funds saw over $100 million pulled out for the second week running, according to weekly EPFR data through Wednesday.