Assets continue to flee Russian market
Capital is flowing out of funds that had been investing in Russian assets, with $381.6 million withdrawn over the week (0.93% of assets under management) against $125.7 million in the previous week (0.29% of assets under management), Russian news agency Prime reports.
The outflow of capital has been continuing for the fifth consecutive week, according to the data of Emerging Portfolio Fund Research (EPFR), cited in a report by Sberbank CIB.
As UNIAN reported earlier, the Central Bank of Russia raised its forecast for capital outflows in 2015 from $99 billion to $120 billion.
According to the latest forecasts of Russian Ministry of Economic Development, the outflow of capital from Russia in 2014 could range from $90 billion to $120 billion.
During the first half of 2014, the outflow reached $74.6 billion, including $48.8 billion in the first quarter and $25.8 billion in the second.