📝EM Bond Funds Start 2023 With Outflows: J.P. Morgan

EM bond flows were -$408mn (-0.11% of weekly AUM, ↓from -$69mn); EM equity flows were +$119mn (+0.01% of weekly AUM, ↑from -$189mn). EM bond funds start 2023 with weekly outflows, as hard-currency funds revert to outflows (-$219mn, from +$115mn) while local-currency outflows remain similar in size to the past two weeks (-$190mn, from -$185mn). Outflows were observed across ETF (-$270mn) and non-ETF (-$139mn) funds. EM equity flows reverted to small inflows via ETFs at +$685mn, the inflows were observed across Asia Ex-Japan, Latam, and EMEA. - J.P. Morgan Strategy