LONDON (Reuters) – Equity funds suffered a $14.1 billion outflow in the week to Wednesday in the largest exit in three months, BofA Global Research said in a note on Friday.
U.S. equity funds saw an $16.2 billion outflow, the biggest since April, the latest flow data from BofA also showed.
Bond funds also saw outflows, to the tune of $2.4 billion, while cash funds attracted $31.1 billion inflows and gold funds added $59 million, BofA said citing EPFR data.
In its weekly note, BofA noted that outflows from credit funds in 2022 of $316 billion have unwound all the inflows of 2021. It added that while equity funds have seen inflows this year of some $207 billion, this was down from the “euphoric inflows” seen last year.
In emerging markets, BofA said bonds had a 15th week of outflows, losing $500 million, while equities attracted $1.1 billion of inflows.
BofA’s bull & bear indicator meaning jumped to 2.0 from 1.4, meaning a “buy signal” for risk assets is close to an end.
(Reporting by Dhara Ranasinghe, editing by Karin Strohecker)
