BofA: Equity Funds Attract $23.9 Billion in a Week

Bank of America said in a weekly note that investors dumped cash into stock and bond funds in the week ending Wednesday as equity funds saw their biggest inflows in nine weeks.

Based on EPFR data, Bank of America concluded that equity funds attracted $23.9 billion, while bond funds attracted $12.6 billion. This came at the expense of cash, which suffered a weekly outflow of $4.5 billion.

In fixed income instruments, investment-grade bond funds saw inflows for the 23rd consecutive week, bringing in $7.8 billion, while emerging market debt saw its first inflows in four weeks at $200 million.

US stocks attracted $12.8 billion while emerging market funds recorded the largest inflows since April at $4.3 billion. Meanwhile, Japan lost $900 million.