European Equity Funds Post Biggest Outflow in Six Months
- $1.4 billion withdrawn from European stock funds: BofAML
- U.S. funds end longest streak of outflows since 2004
Stock prices are displayed on a financial data board at the Frankfurt Stock Exchange in Frankfurt, Germany, on Tuesday, Dec. 9, 2014. The dollar dropped amid the biggest global currency swings in a year, oil slipped and Europe stocks advanced after two days of losses.
Photographer: Martin Leissl/BloombergThis article is for subscribers only.
European equity funds suffered their biggest outflows in 26 weeks as a continuing rally in the euro heightened investor concerns over the region’s exporters.
Investors pulled $1.4 billion from the region’s stock funds, Bank of America Merrill Lynch said in a research report, citing EPFR Global data. That was the second consecutive week of outflows.