Fixed income funds enjoyed their biggest inflows in seven weeks with investors piling into investment grade debt and U.S. Treasuries in the past week, BofA said on Friday.
Bond funds took in $13.3 billion with investment grade bond funds enjoying $8.8 bln of inflows and U.S. Treasuries pulling in $2.5 billion in the week to Wednesday — their largest intake in five weeks, BofA said, citing EPFR data.
Equities saw inflows of $12.6 billion with U.S. stocks benefiting from a third straight week of inflows, at $6.2 billion.
Investors added cash to equities during a period that saw markets gyrate over speculation about when the U.S. Federal Reserve will begin tapering and concerns for economic growth amid the rapid spread of the Delta COVID-19 variant.
Precious metal funds suffered their largest outflows, at $1.4 billion, since March.