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January 01, 2010 at 02:00 AM
Flows into emerging-market equity and the riskier bond fund groups have been losing momentum in early December, according to EPFR Global of Boston.
At the same time, high-yield bond funds posted outflows for only the second time since late June, as flows into emerging-market equity funds stood at a level that represented only about 33 percent of their weekly average year-to-date.
Before the rise in the U.S. dollar, uncertainty and market volatility were heightening an “already keen investor appetite for exposure to commodities and to the more conservative bond fund groups,” says EPFR Global, with commodity sector, U.S. and global bond funds all taking in over $1 billion in new money for the week.
Overall, bond funds collectively took in about $3 billion for the week ending December 2, while their equity counterparts, helped by large inflows into some Europe equity funds, absorbed a net $3.1 billion.
“Investors remain anxious to deploy money before the books close on 2009,” explains EPFR Global analyst Cameron Brandt.
Flows into bond funds through the first 11 months of the year stand at about $140 billion. Equity funds have had positive flows of roughly $15 billion in the same period.
