European equity funds attracted the highest weekly net inflow in over a year in the second week of August, amid news that Europe has exited recession.
Investors pumped more net funds into European equity funds in the week ending August 14 than they had in 66 weeks, according to data provider EPFR Global.
“The robust flows into Europe equity funds stood out during a week when many investors were on vacation, literally and figuratively, with most major fund groups recording lacklustre flows either way,” says EPFR Global.
European bond funds attracted the highest weekly net inflow in six weeks, adds the firm.
Overall, equity funds attracted a net inflow of $1.3 billion (€1 billion), while bond funds had net redemptions of $1.4 billion.
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