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Global equity, bond funds led inflows in the latest week - BofA

Published 24/05/2024, 11:00
© Reuters.

Global equity funds attracted $10.5 billion in the week that ended May 22, Bank of America strategists said in a note.

US stock funds posted their fifth consecutive week of inflows, totaling $12.2 billion, pointing to sustained investor interest in the US market.

Elsewhere, European stocks continued to face redemptions, and Japanese equities experienced their largest weekly outflow on record at $5.9 billion.

Among sectors, materials led with inflows of $1.9 billion. However, utilities and health care sectors saw significant outflows of $400 million each, and the consumer sector faced outflows of $600 million.

During the week, bond funds experienced robust additions of $12.5 billion. Investment-grade (IG) bonds saw their 30th consecutive week of inflows, totaling $6.5 billion, while high-yield (HY) bonds attracted $2.2 billion, recording the largest three-week cumulative inflow since November.

Emerging market (EM) debt saw modest additions of $100 million.

Cash funds also remained a popular choice, with inflows of $24.8 billion, showing that investors continue to favor liquidity amidst ongoing market uncertainties.

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