BofA: Global Equity Funds Attract $46.2 Billion in Inflows

Weekly data on fund flows from Bank of America showed that equity funds attracted their third-largest inflows ever at $46.2 billion in the week ending on Wednesday, led by flows into technology stocks and financial companies.

Bank of America concluded that bond funds attracted $7.1 billion in inflows for the 16th week in a row, while Treasury inflation-protected securities added $1.3 billion.

The bank is based on EPFR data gathered before the latest jump in real yields, sparking a sell-off in the stock market.

Bank of America said fixed-income debt instruments rated at investment grade attracted $5.4 billion at the expense of high-yield instruments that lost $1.7 billion in the largest influx of flows in three months.

Inequities, US stocks raked in $20.4 billion, while emerging markets received record inflows of $11.6 billion in debt and equities.