NEW YORK, April 17 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
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)