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Alternative Market Briefing

Redemptions from US equity funds hit highest level in 49 weeks - EPFR

Monday, October 29, 2012

Bailey McCann, Opalesque New York: Fund flow data from late October suggests that the US Federal Reserve’s efforts to chase investors out of safe asset classes into riskier ones are producing decidedly mixed results, says EPFR in their latest report. EPFR Global-tracked Bond Funds collectively posted their biggest inflow on record during the week ending Oct. 24 while redemptions from US Equity Funds hit their highest level in 49 weeks. Efforts by the European Central Bank to stem the flight from Eurozone assets appear to be having more success: flows into Europe Bond Funds set a weekly record and Europe Equity Funds absorbed over $1bn.

Investors have been moving back into fixed income in the US for awhile now as lackluster corporate earnings are pushing investors away. Emerging markets are also benefiting from this shift according to data tracked in the report. Emerging market funds have seen seven solid weeks of inflows with China and Japan funds seeing the lion's share. Investors also seem to be taking renewed interest in Latin America on the hope of better Chinese exports, commitments to Peru Equity Funds jumped to a 72 week high and Brazil Equity Funds absorbed over $400m.

As the effects of QE3 on the US market begin to fade, few sector focused funds have much in the way of positive activity. Energy, Technology, Healthcare/Biotechnology and Consumer Goods Sector Funds all surrendered over $200m......................

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