Global stock funds attracted $6.3 billion in the week through June 12, driven by US equities, which registered their eighth consecutive week of inflows, Bank of America said in a Friday report.
Europe remains the only region experiencing year-to-date outflows, with equity funds in the region suffering outflows for the fourth consecutive week. BofA noted that $600 million exited European stock funds during the week.
Meanwhile, cash funds have surged, seeing additions of $40.4 billion, marking the largest inflow among all asset classes, according to a recent Bank of America note. Cash is now annualizing $680 billion in inflows, the bank’s strategists highlighted.
Bond funds saw robust inflows, amounting to $10.3 billion. Investment-grade bonds continued their strong performance with the 33rd week of additions, totaling $7.7 billion. High-yield bonds also attracted approximately $1 billion. In contrast, emerging market (EM) debt resumed outflows, with $1 billion exiting the asset class, signaling caution among investors.
Sector-wise, technology led the inflows with $2.1 billion, while the energy sector saw the largest outflow since February 2024, with $1.3 billion exiting, followed by healthcare with $600 million in outflows.
As for money market funds, assets under management (AUM) reached $6.1 trillion.