Equity, debt funds pulling in more cash-EPFR

NEW YORK Oct 22 (Reuters) - Fresh cash poured into equity and bond funds in the week ended Oct. 21 as investors seek to gain from U.S. corporate results that are meeting or beating expectations, fund tracker EPFR Global said on Thursday.

The Boston-based firm said in a statement that all equity funds tracked took in a net $10.47 billion, their best weekly inflow total this year and the most since June 2008.

All bond funds tracked had net inflows of $6 billion, their second best week of inflows this year. Global bond funds set a weekly record, pulling in $2.1 billion, while U.S. bond funds had net inflows of more than $2 billion for the 11th straight week.

Emerging market bond funds took in $492 million in net new cash, while high yield bond funds extended their current inflow streak to 17 straight weeks.

Money market mutual funds, the safe haven investors sought at the height of the global financial crisis, had a further $18.9 billion in net outflows last week.

Year-to-date outflows from money market funds have topped $400 billion and are on pace to reach above $525 billion if the trend is uninterrupted.

Emerging market equity funds took in a total of $4.9 billion, their biggest inflow total since the third week of December 2007. They have now pulled in over $50 billion in net inflows year-to-date.

"Buoyed by US and European earnings reports, emerging markets equity funds continued attracting fresh portfolio capital despite some less than stellar macroeconomic data from key developed markets," the statement said.

It added that the money poured in despite "Brazil's decision to impose a tax on foreign inflows to try and curb the recent run up in the value of the country's currency."

Brazil, China, India and Russia equity funds all had inflows.

"The flows into Russia Equity Funds were the most eye-catching among this group: the $450 million they absorbed represented their best week in dollar and percentage terms since EPFR Global started tracking them in 1Q02," EPFR said.

European equity funds had net inflows of $1.13 billion while global equity funds took in a net $1.23 billion. Japanese equity funds were the only developed market sector that did not have inflows, the firm said, marking a fifth straight week of net redemptions.

EPFR said the European equity funds, while enjoying inflows of fresh cash, saw them losing some momentum "as the strength of the Eurozone's common currency, lackluster growth projections for next year and concerns about corporate pricing power began to bite."

Financial sector funds were the exception in the latest week and had net outflows as a result of redemptions from exchange traded funds that resulted in $450 million -- a 10 week high -- being pulled from the group.

Real estate sector funds had their second best week of the year with net inflows of $728 million. Technology, consumer goods and energy sector funds all had net inflows.

Healthcare/biotechnology sector funds had outflows for the tenth time in thirteen weeks while the U.S. healthcare debate boiled. (Reporting by Daniel Bases; Editing Bernard Orr)