Investors pulled out $220 million from emerging markets' equity funds past week on concerns

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of high inflation and global economic growth, says a report.

During the week ended June 8, emerging markets' equity funds lost $220 million, according to the data complied by the international fund tracking firm EPFR.

After three consecutive weeks of outflows, they had attracted about $820 million in the week ended June 1.

"Emerging markets' equity funds posted outflows for the third time in four weeks during early June as doubts about global growth and the ongoing struggle against inflation in many key markets kept investors on the sidelines," EPFR said.

Moreover, emerging markets' equity funds are also feeling the pressure from the eurozone debt crisis.

With Indian equity funds marking the sixth straight week of outflows as food prices keep inflation at uncomfortably high levels, inflation remains a concern in many Asian markets. The EPFR, however, did not disclose specific outflow figures for India-focused funds.

In contrast, funds dedicated to Brazil, Russia, China attracted fresh capital during the period.

Brazil Equity Funds also posted inflows for the fourth time in five weeks despite inflation.

Chinese equity funds posted inflows for the first time since April and Russian equity funds posted inflows for the first time since early May.

Interestingly, the report said investors are shifting their money from equities to bonds as they are worried over global growth.