Western institutions are unlikely to return to GCC markets for most of 2009, says EFG-Hermes in its latest GCC Strategy Note sent to Emirates Business.
However, the research agency does not rule out temporary and intermittent flows "given ongoing volatility, both in the Middle East and in global stock markets".
According to the report, data on the flow of funds indicates the Middle East markets in general continue to see outflows of foreign capital, while global emerging market (Gem) funds are witnessing a gradually improving trend. This, says EFG-Hermes, is as expected.
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