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1 Apr, 2008 06:55

Investors dump industry for safer bets

Russian private investors pulled a hundred million dollars out of mutual funds last month – that's the biggest withdrawal since October last year, according to Kommersant.

Sector funds – which focus on specific industries – lost more than other funds as investors became disappointed with last year's profits.

The newspaper reports Russians are trying to secure their investments in real estate and bank deposits.

The Financial Times is reporting investors around the world pulled $100 billion out of equity funds in the first quarter of this year.