Over the week of May 20, investors took away $210 million from funds targeting Russian assets and bonds (including funds focused not only on the Russian Federation), according to Emerging Portfolio Fund Research (EPFR), which tracks the inflow and outflow of funds into investment funds and distribution of funds. As noted by PRIME, a week earlier a net outflow of capital in the amount of $110 million was recorded.
Recall also that, according to the Bank of Russia, the total net capital outflow from Russia in January-April 2020 amounted to $23.9 billion. Thus, the net capital outflow from the country decreased by 13.4% in the first 4 months of this year compared with $27.6 billion a year earlier.
Over the past year, the net outflow of capital from Russia amounted to $26.7 billion, showing a decrease in export by 2.4 times compared with $63 billion a year earlier. The Central Bank explained that “the decisive influence on the indicated value had a decrease in foreign liabilities of banks, while the contribution of other sectors to net lending to the rest of the world decreased markedly”.
On February 7, the Bank of Russia revised its expectations for a net outflow of capital from the country this year - from $20 billion to $15 billion. In addition, the estimate of net outflow of capital from the Russian Federation in 2021 and 2022 was lowered from $15 billion to $10 billion.