from Zero Hedge
Whether it is due to the recent speculation that Japan may usher in helicopter money, or ongoing concerns about what Brexit may do to the future of European asset returns, there has been a dramatic shift in fund allocation and as Bank of America reports, investors are rushing to vote with their wallets. They have done so in the latest week by continuing to plow money into EM stocks, allocating a record amount of cash to Emerging Markets, while yanking a similarly record amount of cash from Europe.
As BofA’s Michael Hartnett reports, there was a record inflow to EM debt funds ($4.9bn); representing the largest EM equity inflows in 12 months ($4.7bn).