Flows into money market funds hit 18-month high, says EPFR
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Fund flows into money market funds hit an 18-month high during the week ended July 7, according to EPFR Global Fund Data.
EPFR covers funds registered for sale in most developed market jurisdictions and offshore domiciles. In its latest update, EPFR says fund flows into money market funds totaled $33.5 billion (£22.1 billion) in early July, which it says reflects recent investor uncertainty.
Indeed, over the same time period, equity funds posted combined net redemptions of $11.25 billion, while global bond funds attracted $3.64 billion of new money. (article continues below)
European equity funds were the only major EPFR global-tracked developed equity markets fund group to post inflows during the week, ending four straight weeks of outflows.
