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UPDATE 1-Stock, investment-grade bond funds get billions in inflows -BofA
September 5, 2014 / 5:10 PM / 3 years ago

UPDATE 1-Stock, investment-grade bond funds get billions in inflows -BofA

(Adds details, comments from investment strategists, paragraphs 3-6)

NEW YORK, Sept 5 (Reuters) - Investors worldwide poured $6.2 billion into stock funds in the week ended Sept. 3, marking their fourth straight week of inflows, data from a Bank of America Merrill Lynch Global Research report showed on Friday.

U.S.-focused stock funds attracted $5.8 billion of the net inflows, according to the report, which also cited data from fund-tracker EPFR Global. Emerging market equity funds attracted $700 million, marking their 13th straight week of inflows, their longest streak of net inflows since February 2013.

Appetite was still strong for fixed-income funds.

Michael Hartnett, chief investment strategist at BofA, and Brian Leung, investment strategist at BofA, said in the BofA Friday report that investors are “still crazy for credit” with $3 billion of net inflows to investment-grade bond funds over the latest reporting week. The latest investment-grade inflow figures mark the asset group’s 37th straight week.

They said: “Investors are still in love with corporate bonds,” and added that, “year-to-date flows to investment-grade bonds of $115 billion actually exceed inflows of $98 billion to stocks.”

Overall, bond funds attracted $2.1 billion in new cash for the week ended Sept. 3, marking a fourth straight week of inflows. Riskier high-yield bond funds posted $32 million in outflows, while funds that mainly hold U.S. Treasuries posted $1.4 billion in outflows. (Reporting by Sam Forgione; Editing by David Gregorio)

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