Markets: investors continue to exit equity funds

Photo credit © Reuters

( — Investors continued to abandon the main asset classes during the week ended May 18. Only US stocks and Treasuries saw inflows, according to EPFR Global data picked up by Bank of America. USD 5.2 billion left equity funds again over the period, mainly redemptions of mutual funds, while USD 12.3 billion of outflows were recorded in bonds (excluding Treasuries and sovereign debt ). Investors also abandoned money market funds and gold.

Among equity funds, US equities recorded a positive inflow of $0.3bn, while Europe suffered a 14th consecutive week of outflows. Investors flocked to US large caps and growth stocks, while abandoning value stocks and small caps. Among the sectors, utilities and real estate were favored, while financial services, materials and energy were abandoned.


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