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File $58.1 billion pours into global fairness funds: BofA


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Economy15 hours previously (Feb 12, 2021 04: 55PM ET)

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Record $58.1 billion pours into global equity funds: BofA© Reuters. FILE PHOTO: An image illustration shows U.S. 100 greenback bank notes

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LONDON (Reuters) – A anecdote $58.1 billion poured into global fairness funds all the very best probably plan via the last week as buyers pulled money out of money funds and had a lighter exposure to bonds, BofA’s weekly fund fling recordsdata showed on Friday.

World shares notched all-time highs this week as earnings and economic recovery prospects buoyed investor sentiment.

The escape to equities saw indecent positioning among the U.S. investment bank’s wealth management purchasers with 63.1% allocated to equities — highest ever — and 19.1% to debt — lowest ever.

The investment bank said a bulk of last week’s flows ended up in U.S. equities with $36.3 billion inflows, the real ever, with huge-cap funds taking in $25.1 billion in the week to Wednesday.

Relentless procuring for in immense tech shares has furthermore been a major feature in most as a lot as the moment investment dispositions. Tech funds attracted $5.4 billion, beating last week’s anecdote $4.2 billion inflows.

BofA’s Bull & Endure indicator hit 7.7 correct panicked of “indecent bullish” ranges in a signal of exuberance.

The chance-on temper prompted outflows from money and gold. Money funds lost $10.6 billion, while gold recorded its first outflows in two months with $800 million fleeing. Bond funds saw $13.1 billion inflows.

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