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October 30, 2013 at 08:46 AM
Investors really love equities, or maybe it’s simply that — like Zack Mayo — they have nowhere else to go.
TrimTabs Investment Research reported on Tuesday that all equity mutual funds and exchange-traded funds have received net inflows of $45.5 billion in October through last Friday. This month’s inflow is the fifth-highest in any month on record.
Comparing the equity rush to Silicon Valley’s bestowal of multibillion-dollar valuations on technology outfits that had neither revenue nor profits, David Santschi, CEO of TrimTabs, said investors were piling into equity funds at the fastest rate since the technology stock bubble popped in 2000.
“This year’s inflow of $277 billion into all equity funds is the biggest since the inflow of $324 billion in all of 2000,” he said in a statement.
In an accompanying research note, TrimTabs explained that 3 of the 10 largest monthly inflows into equity funds have occurred this year. The inflows of $66.3 billion in January and $55.3 billion in July were the biggest monthly inflows on record.
