Stock funds worldwide attract $7.5 billion inflows

Posted by Reuters

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 Investors worldwide poured $7.5 billion into stock funds in the week ended March 5 on reassuring signs the U.S. economy was on firm footing and reduced geopolitical tensions, data from a Bank of America Merrill Lynch Global Research report showed Friday.

Inflows in the week ended Wednesday marked the fourth straight week of new cash into the funds, according to the report, which also cited data from fund tracker EPFR Global.

“People are growing sanguine about global growth,” said Chris Konstantinos, head of international portfolio management at RiverFront Investment Group in Richmond, Virginia.

The net inflows into stock funds showed investors’ conviction that stocks, which hit record highs over the weekly period, could continue to rally on a stronger U.S. economy.