Emerging markets continue to take in new money

Despite fears that valuations have run ahead of fundamentals in many cases, EPFR Global notes that emerging market equity funds continued to attract large amounts of fresh money during the second week of May "as the furore over swine flu faded to a whisper". Those funds tracked by EPFR Global took in another $3.5 billion in net inflows during the week ending May 13, extending their current winning streak to 10 weeks and total net inflows of $18.6 billion since the week of March 11. T…