Equity funds posted their third highest weekly inflows of 2013 last week as the economic climate in Europe appeared to brighten, with even emerging markets attracting more investment.
Record-setting amounts of money flowed into Europe and Spain equity funds as investors placed $21.4 billion (€15.4 billion) in total into EPFR Global-tracked equity funds.
Investors also warmed to emerging markets equity funds, says EPFR, during the third week of October (ending October 23), as fears of tapering by the US Federal Reserve faded deeper into the new year. Flows into these funds jumped to a 37-week high on the back of a strong week for several emerging Asian country fund groups.
Europe high yield bond funds also saw net positive inflows, while flows into emerging Europe regional equity and Europe bond funds hit 14- and 25-week highs and year-to-date commitments to Spain bond funds crossed the $4 billion mark.
Overall, bond funds absorbed $527 million. Flows into money market funds were almost $66 billion as the agreement on the US debt ceiling reversed the previous week’s massive outflows.
©2013 funds europe