Middle-East and fiscal cliff subdue investors
The looming fiscal cliff in the US, combined with the continuing Eurozone debt crisis and renewed violence in the Middle-East, have combined to make investors even more cautious, according to the latest data from specialist researcher EPFR Global.
The data, released today, showed that US equity funds had endured the worst of the impact with investors pulling out over $7 billion, and over $1 billion from US high yield bond funds.
However, it showed that bond funds took in $5.29 billion during last week, while net redemptions from equity funds hit their highest level since the week before the US Federal Reserve's announcement of quantitative easing 3.
The analysis said that investors had kept faith with China, despite the mixed reviews garnered by the country's new group of leaders.
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