U.S. Equity Funds Post Longest Run of Outflows Since 2004
- Total outflows since late June reach $30 billion: BofAML
- Money leaving U.S. funds has been finding a home in Europe
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U.S. equity funds suffered their longest streak of outflows in 13 years as growing signs of political deadlock in Washington cast doubt on a rally that has taken the S&P 500 Index to record highs.
Investors pulled $2.6 billion from U.S. stock funds in a 10th consecutive week of outflows, Bank of America Merrill Lynch said in a research report citing EPFR Global data. That takes total outflows since late June to $30 billion, according to the report, which covered the week to Aug. 23.