Investors pulled their money from emerging market equity funds at a rapid pace for the fourth consecutive week of outflows, according to EmergingPortfolio.com

The exodus marks the strongest period of outflows for the sector since EmergingPortfolio.com, which collects flows and allocation data from funds registered in the U.S. and other major world countries, started tracking fund flows on a weekly basis in 2000.

In the week ending May 19, emerging market equity funds saw $1.5 billion in combined outflows, bringing the total to leave the product to $4.7 billion in the past four weeks. The $1.5 billion is the second worst week of outflows since 2000, and directly behind the previous week, which saw $1.8 billion leave.

The funds in question include 706 Global Emerging Market, Asia ex-Japan, and Latin

America equity funds among others. With the recent streak of bad luck, the group’s net inflows have been chopped down to $1.2 billion for the year.

Fund categories investing in China and India, previously hot areas, saw heavy outflows, while Russia country funds had $26.8 million of net inflows as oil prices hit 21-year highs.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.