Emerging Asian equities has borne the brunt of withdrawals, with the cumulative $12.
MSCI, by contrast, approaches the issue from the point of view of investible equities, so its division of the world into developed, emerging and frontier markets is based on the level of market access to foreign investors, and standards of size and liquidity.
The firm gauges the total amount of private wealth based on property, cash, equities and business interests.
" While the investment strategist had signalled a sharp change of tone in his longstanding bearish views last year, his latest forecast is his strongest statement yet on a "late bubble surge" for equities.
" But the ups and downs of equities markets make potential Chinese investors anxious, he says, so first they have to conquer their fears: "Once they move the asset offshore, their mindset is to try to keep the asset safe.
More than a decade ago, many banks pushed aggressively to open securities operations with local partners in the hopes of winning equities underwriting business, which is still largely closed to outside players.
The human resources ministry said that a number of local governments had transferred assets to the National Social Security Fund, where managers have broader latitude to invest in riskier assets, including up to 40 per cent in equities and stock funds.
Cash has started to flow into raw materials in part because Chinese officials imposed curbs on equities trading last year.
After a torrid start to the year led by miners and commodity producers, global equities are being hammered with financials bearing the brunt of selling.
"We've seen a huge increase in the amount of enquires and the amount of people looking to remove exposure to equities, banks, bonds and government debt," he says.
5 per cent following weeks of turmoil in equities and plunging commodity prices.
Mahua FunAge released its prospectus to the National Equities Exchange and Quotations, also known as the New Third Board, a day before Goodbye Mr.
That will change as it develops," says Stephane Loiseau, head of Société Générale's cash equities and execution services business in Asia.
Fears of a new Greek crisis are resurfacing and US economic data has disappointed of late, but corporate earnings are likely to be a key driving force for US equities this year, said Russ Koesterich, global chief investment strategist at Blackrock.
' They typically prefer passive index funds to actively managed ones, and unlike panicked investors who fled equities during the financial crisis, they say they bought stocks the day the market hit its bottom in 2009, a move the firm attributes to disciplined rebalancing.