Funds investing in the Russian stock market reported an outflow of $15 million during the period from January 16 to 22, 2014, against 80 million dollars a week before, according to Emerging Portfolio Fund Research.

Funds orientated to Russia lose money for six successive weeks, but the last outflow was the lowest in six weeks.

Exchange Traded Funds reported an outflow of $45 million, while traditional funds attracted $121 million that were invested in the largest Russian fund Parvest Equity Russia managed by BNP Paribas Investment Partners. If it had not been for the investment, the outflow from funds of investments in Russian assets would have amounted to $106 billion, Uralsib Capital said.

Risks of short-term pressure on the Russian market remain, Uralsib Capital analysts say. Despite the fact that Russian funds almost managed to withstand the pressure on funds of developing markets, they cannot attract new money so far because of the unfavorable macro forecasts and unimpressive corporative reports, believes Vyacheslav Smolyaninov, deputy head of Uralsib Capital’s analytical department.

The U.S. FRS open market operations committee’s meeting planned for next week will be the main event that may increase the outflow from developing markets and from Russia, the expert noted. The relatively reliable financial situation of Russia and China must help them to stand possible storms easier than more vulnerable economics can. However, there are still risks for an increasing outflow in the near future, which will continue to have a negative effect on the market dynamism, he said.