Stock funds worldwide post $28.3 bln outflow - BofA
NEW YORK Feb 7 (Reuters) - Fund investors worldwide pulled $28.3 billion out of stock funds in the week ended Feb. 5, marking the biggest outflows from the funds since August 2011, data from a Bank of America Merrill Lynch Global Research report showed on Friday.
Investors pulled $24 billion from funds that specialize in U.S. stocks, with most of the outflows coming from exchange-traded funds according to the report, which also cited data from fund-tracker EPFR Global.
Bond funds worldwide attracted about $15 billion in net new cash, with $13.2 billion of that sum going toward funds that mainly hold U.S. Treasuries.
Investment-grade bond funds attracted $4.2 billion in new cash, marking the biggest inflows into the funds since May of last year, but riskier high-yield bond funds posted outflows of $1.2 billion, their biggest outflows since last August.