Billion-Dollar Fund Flows Show Europe Investors Inured to Swings
This article is for subscribers only.
Wild rallies and heavy selloffs are no deterrent to investors pumping record money into European equities.
Daily swings in the Stoxx Europe 600 Index have averaged 1.1 percent in August as companies go up and down in lockstep more than any time since the depth of the sovereign-debt crisis. Yet confidence that earnings growth will come through has made investors look past the volatility and pour $1.3 billion into an exchange-traded fund tracking the shares in the past month, including record inflows last week.