Jan
10
Investors Pull $8.8 Billion From World Equity Funds in 2016 Rout
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Redemptions in U.S.-based equity funds hit 17-week high
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China-fueled turmoil sees investors move cash to bond funds
The worst start to a year for global financial markets sparked the biggest weekly outflow of cash from equity mutual funds since September.
Investors pulled $8.8 billion from funds that track stocks around the world, according to data collected by Cambridge, Massachusetts-based EPFR Global Inc., as the weakening of China’s currency rekindled concern that slowing growth there would spread. Redemptions at U.S.-based stock funds hit at a 17-week high, with investors favoring funds that target Europe and Japan, where central banks have pledged continued support, data for the week ended Jan. 6 show…
Investors Pull $8.8 Billion From World Equity Funds in 2016 Rout
