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.
Recommended for you
Several wealth management companies have been shortlisted in the second annual Australian AI Awards program, which champions individuals and organisations pioneering Australian AI innovation.
Women are expected to inherit US$124 trillion through the intergenerational wealth transfer, but Capital Group has found they are twice as likely to rely on social media for advice over a financial adviser.
Challenger Investment Management has raised $350 million during the offer period for its new ASX-listed investment structure.
A week after Lonsec downgraded multiple funds from Metrics Credit Partners, rival research house Zenith Investment Partners has opted to retain its ratings for the same funds.
