Investors dump equities for money markets
Only six of the 24 major equity, fixed-income and sector fund groups tracked by EPFR Global posted inflows in the first week of March.
More news of cash calls, bankruptcies, dividend cuts and longer job queues caused $10.4 billion in net outflows from EPFR Global-tracked equity funds in the week ending March 4, and another $2.47 billion in net outflows from bond funds.
Overall, only six of the 24 major equity, fixed income and sector fund groups tracked by EPFR Global managed to post inflows.
Money market funds, meanwhile, posted $12.8 billion in net inflows in the week ending March 4. Based in Massachusetts, EPFR …
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