Money market funds suffer outflows of $32 bln; stock funds gain--EPFR

Fri Feb 22, 2013 1:15pm EST

Feb 22 (Reuters) - Fund investors worldwide turned positive on higher-yielding assets in the latest week, yanking $32 billion in money market funds and pouring $8.58 billion in equity funds, data from EPFR Global showed on Friday.

Funds that hold U.S. stocks enjoyed net inflows of $2.24 billion, up from last week's outflows of $3.62 billion in the week ended Feb. 20, the fund-tracking firm said.

Cameron Brandt, director of research at the firm, told Reuters that he estimates roughly $12 billion of outflows from money market funds found their way into higher-yielding assets including equities and high-yield "junk" bond funds.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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