August 9, 2019 / 10:05 AM / 14 days ago

Precious metal funds reap 4th biggest weekly inflows amid safe haven dash - BAML

LONDON, Aug 9 (Reuters) - Precious metal funds recorded the fourth largest weekly inflows ever and investment-grade funds sucked in money, Bank of America Merrill Lynch said on Friday, as escalating trade tensions and global growth concerns prompted a dash for .safe havens

A total of $2.3 billion poured into precious metal funds in the week to Wednesday, while investment-grade bond funds notched up their 29th week of inflows, pulling in $6.7 billion, said BAML citing EPFR data.

Within equities, United States stocks funds suffered $15.2 billion in outflows, the most since December 2018, while emerging equity funds saw the biggest outflow since August 2015 at $6.2 billion. (Reporting by Tom Arnold, editing by Karin Strohecker)

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