MARKETS-New massive outflows on stocks-BofA | Photo credit: Shutterstocks
LONDON, Sept 2 (Reuters) – Equity funds suffered their fourth-biggest weekly outflows of the year while specialist bond funds posted outflows for the second week in a row, data from the Bank of America (BofA).
Outflows from equity funds in the week to August 31 amounted to $9.4 billion, according to BofA, citing data from EPFR Global. Withdrawals from funds on US equities stood at $6.1 billion, the largest in ten weeks.
Funds specializing in European equities recorded 29 consecutive weeks of outflows, notes BofA.
Outflows of bond funds reached $4.2 billion, bringing the total since the start of the year to $284 billion, the highest level for 20 years, adds BofA.
Analysts at the U.S. bank also said their “Bull & Bear” indicator of financial market sentiment rose above zero for the first time since June 14. (Samuel Indyk report, French version Laetitia Volga, edited by Sophie Louet)