Emerging market equity and fixed income funds have attracted a record year for inflows with the two asset classes attracting roughly $14.5bn (€11.7bn) of new money in 2003, according to data from EmergingPortfolio.com Fund Research (EPRF).

Investors have pumped a total of $11.2bn of new money into the 961 dedicated emerging market equity funds which EPFR tracks in the year to December 17. These funds have grown by 15% since the beginning of the year from inflows alone. The previous record for inflows in one year was $10.9bn in 1996.