Figures from EPFR Global show that the negative sentiment extended to energy funds in the week to 18 May, a week when many investors turned more defensive.
Flows into utilities funds reached a 27-week high, while demand for healthcare exposure continued to drive flows into heathcare/biotech funds. "Biotech and life science funds have accounted for less than 10% of inflows during the past few weeks," said EPFR Global research director Cameron Brandt of the sector.
Despite recent woes, commodity funds still hold their place at the top of the year-to-date inflows table, but real estate funds have now leapfrogged energy funds into second place, according to EPFR. The least favoured sector remains financials.
On a broader basis, that more cautious approach to risk meant that equity funds, driven by institutional sentiment, saw some $7bn in outflows on the week. Bond funds, by contrast, took in a net $4.6bn.
