LONDON (Reuters) – Investors have made a beeline into so-called “value trades”, adding cash into European stocks and financial and material shares during the past week, BofA’s weekly statistics showed on Friday.
At $1.5 billion, Europe saw the biggest inflow in eight weeks while financial stocks saw a chunky $2.6 billion of inflows — the largest in ten weeks — the U.S. investment bank said.
Global equity funds enjoyed inflows of $15.7 billion as private clients of the U.S. investment bank holding $3.2 trillion in assets increased their allocation to stocks to a record high of 65%.
(Reporting by Saikat Chatterjee; Editing by Tommy Wilkes)
