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Returning investors gravitate to diversified and sector fund groups in early September

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Cash started moving out of money market funds for the first time in five weeks during early September as investors in Europe and the US returned from their summer holidays.

But when it came to putting that cash to work, caution prevailed.
 
Equity funds with US, diversified global or sector mandates and bond funds with multi-asset strategies attracted the strongest flows during the week ending September 3 while most country fund groups struggled, as did high yield and floating rate bond funds.

Retail investors made the strongest statement in the wake of the Labor Day holiday as their commitments to emerging markets equity funds hit an 82 week high, helping that fund group post net inflows for the 14th time in the past 15 weeks.

Overall, EPFR Global-tracked equity funds took in USD6.18 billion during the week, thereby extending their longest run of inflows since April, and bond funds absorbed USD2.14 billion while USD20.7 billion flowed out of money market funds.
 
 
At the country level redemptions from a single fund propelled Canada equity funds to their biggest weekly outflow on record, China equity funds saw their five week inflow streak snapped and nine of the 16 Europe equity funds groups dedicated to individual countries experienced net redemptions ahead of the European Central Bank’s much anticipated meeting on 4 September.

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