Investors storm into "value trades" as broader equity exuberance fades
Reuters2021-08-13
LONDON, Aug 13 (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%.
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