• Thursday, February 29, 2024
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BusinessDay

Stock funds worldwide attract $11.5 billion after record outflow –BofA

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Fund investors worldwide com¬mitted $11.5 billion to stock funds in the week ended Febru¬ary 12, reversing the prior week’s record outflows, data from a Bank of Amer¬ica Merrill Lynch Global Research report showed on Friday.

The inflows into stock funds reversed the prior week’s outflows of $28.3 billion, which were a re¬cord in dollar terms. U.S.-focused stock funds at¬tracted $7 billion in new cash, reversing the prior week’s record cash out¬flows of $24 billion, accord¬ing to data from the report, which also cited data from fund-tracker EPFR Global.

Emerging market stock funds posted $3.1 billion in outflows, extending the funds’ record outflow streak to 16 weeks. Funds that hold European stocks did better with inflows of $4 billion, marking their 33rd straight week of in-flows.

Bond funds world¬wide attracted $4.7 bil¬lion in new cash, mark¬ing the second straight week of inflows after record cash inflows of about $15 billion in the previous week.

High-yield bond funds attracted $1.8 billion, mark¬ing their first inflows in three weeks. Safer invest¬ment-grade bond funds at¬tracted $2.5 billion in new cash, marking their 8th straight week of inflows.