Almost $90 million flowed out of funds dealing in Russian shares in the week from Nov. 28 to Dec. 4, marking the sixth continuous week of losses for these funds, according to Emerging Portfolio Fund Research.
The majority of the capital outflow, $70 million, was from exchange traded funds, while traditional funds lost only $15 million, UralSib Capital said, Vedomosti reported Friday.
Outflow from global emerging market funds rose to $1.4 billion this week, its second-highest level since the beginning of September.
Russia lost more than any other developing country except India, which saw an outflow of $100 million.
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