Weekly statistics from EPFR show that developed market equity funds suffered their largest weekly outflow since mid-August, with retail redemptions “hitting their highest level in exactly a year”.
Equity funds suffered across the board, posting outflows of $9.27bn on the week, thereby extending their longest outflow streak since late Q3 2010. Bond funds, by contrast, continued to take in money, with a net $4.53bn in inflows.
Geographically speaking, Asia ex-Japan was the only major equity fund group to see inflows: US equity funds saw outflows for the third successive week, redemptions from European equity funds reached a ten-week high, and outflows also hit GEM and Latin America equity funds.
On a sector basis, there was positive news for a commodity sector that had seen almost $5bn in net outflows over the past three weeks, as fund inflows returned in the week that Goldman Sachs reversed its earlier sell call on crude oil and other resources.
