The Tell: Equity funds suffer largest ever weekly outflows: BofA Global

by | Dec 23, 2022 | Stock Market

Investors withdrew billions of dollars from equity funds at a record pace in the days after the Federal Reserve, the Bank of England and European Central bank raised interest rates in mid-December and reiterated their commitment to lowering inflation, fueling fears of an economic downturn.  Stock funds recorded the biggest ever weekly outflows of $41.9 billion in the week to December 21, with $27.8 billion of which being withdrawn from exchanged traded funds and $14.1 billion from mutual funds, according to analysts at BofA Global Research, citing EPFR Global data in a weekly note. 

BofA analysts led by Michael Hartnett, chief investment …

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