Australian equity funds defy trend
Australian and Canadian equity funds were among the few to record outflows during the first week of July, according to the latest analysis released by global research and analysis firm EPFR Global.
Reviewing the week, the firm said that soothing comments from central bankers had helped nearly all of the major EPFR Global-tracked Developed Markets Equity Fund groups during the week ending 3 July, with Canada and Australia Equity Funds among the few to record outflows.
The analysis said the first week of July had seen central bankers in the Eurozone and United Kingdom adding their voices to those of US Federal Reserve members arguing that the death of quantitative easing may be a lot less imminent than markets are suggesting.
"Enough investors were persuaded by these remarks to snap the four-week, US$57.8 billion outflow streak compiled by EPFR Global-tracked Bond Funds and end the five-week, US$22 billion streaks recorded by both Emerging Markets Equity and High Yield Bond Funds," it said.
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