European equity funds hit by 10th straight week of outflows -BofA

LONDON – European equity funds suffered a tenth straight week of outflows at $2.9 bln, with financials leading the losses, a BofA report citing EPFR data on Friday showed.

According to the report, U.S. large cap stocks saw their biggest outflow since February 2018 at almost $20 billion in the week to Wednesday.

BofA said equity funds saw their largest outflow in the year-to-date at $17.5 billion. It added that over $55 billion was pulled from cash funds and $6.9 billion from credit funds.

(Reporting by Sujata Rao; Writing by Dhara Ranasinghe)