Bloomberg News

Equity Funds’ Weekly Inflows Double Bond Amount, Citigroup Says

January 04, 2013

Equity funds lured twice the money that went into bonds in the week ended Jan. 2, according to a Citigroup Inc. report that cited EPFR Global data.

Stock funds drew $5.1 billion, exceeding the $2.3 billion that went into bonds, Markus Rosgen and Yue Hin Pong wrote in a report today. Developed-market stock funds attracted $1.7 billion compared with $3.4 billion for emerging-market funds, according to the report.

The flows occurred in the days leading up to the passage of a U.S. bill that averted automatic spending cuts and tax gains that some analysts and economists had said would drag the world’s largest economy into a recession. The House of Representatives voted on Jan. 1 in favor of budget legislation as Republican lawmakers abandoned efforts to add spending cuts to the bill.

Asia funds lured $1.2 billion, the 17th straight week of inflows into the region, according to Citigroup’s report.

To contact the reporter on this story: Ian Sayson in Manila at isayson@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net


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