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Stock funds worldwide attract over US$20b in latest week: BofA
[NEW YORK] Investors worldwide poured US$20.1 billion into stock funds in the week ended March 18, marking the biggest weekly inflows into the funds year-to-date, data from a Bank of America Merrill Lynch Global Research report showed on Friday.
The inflows came after US$700 million in outflows over the prior week. Stock exchange-traded funds attracted all of the new cash at US$23 billion, while stock mutual funds posted US$3 billion in outflows, according to the report, which also cited data from fund-tracker EPFR Global.
US-focused stock funds attracted US$14.1 billion. Bond funds attracted US$6.5 billion to mark their 11th straight week of inflows. Funds that mainly hold US Treasuries attracted US$1.2 billion, marking their biggest inflows in six weeks.