U.S.-focused stock funds worldwide post $7.1 bln outflow - BofA

NEW YORK, April 17 Thu Apr 17, 2014 2:08pm EDT

NEW YORK, April 17 (Reuters) - Fund investors worldwide pulled $7.1 billion out of U.S.-focused stock funds in the week ended Tuesday while putting cash into Japanese and emerging market stock funds, data from a Bank of America Merrill Lynch Global Research report showed on Thursday.

The outflows from U.S.-focused stock funds were the first in three weeks. Stock funds overall attracted $300 million in new cash after hefty $11.2 billion inflows over the prior week, data from the report, which also cited data from fund-tracker EPFR Global, showed.

Funds that specialize in Japanese stocks attracted big inflows of $4.2 billion, with exchange-traded funds attracting most of the new cash. ETFs are thought to represent the institutional investor. Emerging market stock funds attracted $1.9 billion, marking their third straight week of new demand.

Bond funds attracted $2.1 billion, marking their sixth straight week of inflows. Emerging market bond funds attracted $600 million, marking their third straight week of inflows.

Floating-rate debt funds, which are protected from rising interest rates by being pegged to floating-rate benchmarks, posted $100 million in outflows. That marked their first outflows in 95 weeks.

Low-risk money market funds posted a sizeable $37 billion in outflows, marking their fifth straight week of outflows. Precious metals funds, meanwhile, attracted $100 million in new cash, marking their first inflows in three weeks.

(Reporting by Sam Forgione; Editing by Chizu Nomiyama)

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