LONDON (Reuters) – Investors pumped $15.4 billion into bond funds and pulled out $6.4 billion from equities in the week to Wednesday, BofA said on Friday, as increasing pockets rising coronavirus cases in the U.S. curbed risk appetite.
Money market funds, which saw a record $1.2 trillion inflows year-to-date, continued to see redemptions with $16.4 billion going out as investors favoured bonds over cash, BofA’s data crunching for the week to June 17 showed.
Within equities, BofA said healthcare funds saw record redemptions of $2.6 bln on “U.S. election noise”, pointing to the rising chances of Democratic presidential candidate Joe Biden winning the election in November.
(Reporting by Thyagaraju Adinarayan; Editing by Catherine Evans)
