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European stock funds worldwide attract US$3.3b in week: BofA

[NEW YORK] Investors worldwide poured US$3.3 billion into funds that specialize in European shares in the week ended Aug 5 while pulling US$4.3 billion out of funds that specialize in US shares, data from a Bank of America Merrill Lynch Global Research report showed on Friday.

The inflows into European stock funds marked their 12th straight week of inflows, while the outflows from US-focused stock funds marked their third straight week of withdrawals, according to the report, which also cited data from fund-tracker EPFR Global.

Stock funds overall attracted US$700 million in new cash to mark their fifth straight week of inflows. Bond funds attracted US$2 billion in new cash after posting $400 million in outflows the prior week.