Record outflows for developed market funds

The first half of 2008 was the worst six-month period for US, Western Europe and Japan equity funds in terms of fund flows. Combined, the three markets posted a net outflow of $105 billion in the January to June period, according to data from EPFR Global, which tracks around $10 trillion in assets in traditional and alternative funds worldwide.Only the Europe, Middle East, and Africa (EMEA) and Latin America fund groups tracked by EPFR posted net inflows of $2.9 billion and $1 billion…