OREANDA-NEWS. January 23, 2013. Russia-oriented investment funds have lost USD 64 million for the week ending Jan.16, a development that comes just a week after the same funds had experienced a significant influx of money.

That inflow during the prior week had totaled USD 56 million and marked the first substantial inflow in 14 weeks, Vedomosti reported Friday, citing U.S.-based fund research firm EPFR Global.

The USD 64 million outflow is the result of a weak domestic economy, as well as its dependence on the flailing eurozone, analysts said.

A lack of economic reforms and the government's oft-changing laws and growing role in business all encourage investors to withdraw money from Russian investments, said Alexei Yevsyutin, a senior vice president with financial firm BKS.

"Recent attempts by the government to improve the investment climate and increase [the country's] attractiveness to investors in the financial markets have thus far been unable to change the situation," Yevsyutin said.