Flows flee European equity post ECB corporate QE - BAML

Added 29th April 2016

European equity funds reported $4.8bn in outflows last week, the largest in 80 weeks, Bank of America Merrill Lynch revealed on Friday.

Flows flee European equity post ECB corporate QE - BAML

This brought to 12 the number of consecutive weeks of outflows seen within the sector, the bank said in its latest flow show report. Year to date, $24bn worth of assets have come out of European equity funds.

On the other side of the coin, flows into credit funds continued apace, the bank said, explaining that ECB corporate QE proved a catalyst for a U-turn on credit flows.

Inflows into high grade bond funds were positive for the seventh week in a row at $653m, albeit it at a lower level than the previous week, the bank said

In the high yield space, flows almost doubled week on week to $377m, government bond funds recorded a third week of consecutive outflows, while money market funds recorded their largest outflow in four weeks, the bank added. 

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Geoff Candy

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Geoff Candy joined Portfolio Adviser as News Editor in May 2014. He has been a financial journalist and broadcaster since 2005 and, in that time has worked in both South Africa and the Netherlands, covering everything from high street retailers and construction companies to mining and insurance.



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