Money market funds suffer outflows of $32 bln; stock funds gain--EPFR
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.
- North Korea says Kim's powerful uncle dismissed for 'criminal acts'
- Protesters fell Lenin statue, tell Ukraine's president 'you're next'
- Thai PM calls snap election, protesters press on
- Singapore hit by rare outbreak of rioting, 27 arrested |
- Billy Joel, Shirley MacLaine feted at Kennedy Center Honors