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- Record $58.1 billion pours into global equity funds - BofA
Record $58.1 billion pours into global equity funds - BofA
Reuters reports that BofA's weekly fund flow data showed that a record $58.1 billion poured into global equity funds over the past week as investors pulled money out of cash funds and had a lighter exposure to bonds.
The rush to equities saw extreme positioning among the U.S. investment bank's wealth management clients with 63.1% allocated to equities -- highest ever -- and 19.1% to debt -- lowest ever.
The investment bank said a bulk of last week's flows ended up in U.S. equities with $36.3 billion inflows, the best ever, with large-cap funds taking in $25.1 billion in the week to Wednesday.
Tech funds attracted $5.4 billion, beating last week's record $4.2 billion inflows.
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