| Fears about deteriorating economic conditions in China, Brazil and Russia have led to a massive retreat from emerging market exchange traded funds. So far this year investors have pulled $19bn from emerging market ETFs but experts suggest these vehicles are vulnerable to much more selling pressure.
Geoff Dennis, head of emerging markets equity strategy at UBS, the bank, said: “It feels like no one wants to be in emerging markets at the moment.” According to Bank of America Merrill Lynch’s monthly survey of fund managers in September, the number of investment managers that are “underweight” emerging markets is the largest since 2005..............................................Full Article: Source
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