According to EPFR Global, investors yanked $4.81 billion out of European equity funds and $7 billion out of U.S. funds during the week ending May 19th. This probably isn’t too surprising given the negative market action we experienced.
What is surprising is that the flight from stocks wasn’t global in the most recent week. Pacific equity funds saw net inflows of $147 million, which was the highest level in 30 weeks. As shown by the chart below, the cumulative fund flow into Asia is now moving towards an all-time high.
While Asian stocks have been under substantial pressure during the last month, sentiment is starting to turn around… even if prices haven’t quite yet. MSCI Asia shown below.
Meanwhile, commodity funds saw net inflows of $1.03 billion, though most of this was gold. The majority of commodities experienced outflows.
A final notable segment was high yield bonds, which enjoyed a substantial bout of investor love last year. Outlfows remain ugly, at over -$1 billion despite overall positive inflows into global bond funds.