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Investors flock to euro equity funds

By Philip Smith

Investors optimistic for bullish global conditions

Deposits into European equity funds have reached their highest in nearly two years, indicating that investors are starting to feel more bullish about the global economic outlook.

Citing EPFR data, Merrill Lynch, the wealth management arm of Bank of America (BAML), said that a total of $300m (£234m, €270m) was placed into European equity funds in the week up to Wednesday, October 23, 2019, reported Reuters. This compared to outflows of $3.8bn (£2.96 bn, €3.42bn) from global equity funds over the same period.

Investors can be reasonably optimistic on the outlook for European equities particularly when compared to other equity markets and asset classes, said James Rutland, fund manager European equities at asset management firm Schroders.

September 2019 also saw its highest level of inflows into European equities for a one-month period since February 2018 with net new cash reaching €13.7bn. The recovery in equities, following August’s global slump, was driven in part by these European long-term investors.

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