Fund flows bolstered by recovery

Thumbs up hopeFaith in an economic recovery in the US and across Europe appears to be reflected in fund flows.

Retail commitments to US equity funds hit a level last seen at the end of September in 2009 and US high yield bond funds posted their second biggest weekly inflow on record, according to EPFR Global.

Additionally, combined flows into the two major Europe regional equity fund groups were the biggest since mid-December.

Overall, EPFR Global-tracked bond funds took in a nine-week high of $4.36 billion (€3.28 billion) while equity funds absorbed $8 billion. Money market funds saw $12 billion redeemed with US funds accounting for over 90% of that total.

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