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Stock funds worldwide have $6.5 bln outflow - BofA
October 11, 2013 / 2:37 PM / 4 years ago

Stock funds worldwide have $6.5 bln outflow - BofA

NEW YORK, Oct 11 (Reuters) - Investors in funds worldwide pulled $6.5 billion out of stock funds in the latest week, marking the largest such outflows in five weeks, data from a Bank of America Merrill Lynch Global Research report showed Friday.

Money market funds had outflows of $23 billion in the week ended Oct. 9, marking the biggest outflows in four months, according to the report, which also cited data from fund-tracker EPFR Global.

U.S. stock funds had $10.3 billion in outflows in the latest week, marking the largest outflows in seven weeks as U.S. stock markets fell.

European stock funds, meanwhile, attracted $700 million in new cash, marking the 15th straight week of inflows. Japanese stock funds had inflows of $1.1 billion, marking their fifth straight week of inflows.

Investors pulled $1.8 billion from bond funds but high-yield bond funds attracted $1.1 billion in inflows, marking the fifth straight week of new demand for the funds.

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