Equity funds lose $30 billion as investors flee risk: BAML

LONDON (Reuters) – Equity funds suffered their second-largest weekly outflows ever this week, with $29.7 billion pulled out of risky assets, Bank of America Merrill Lynch (NYSE:) (BAML) strategists said on Friday as fears about rising U.S. protectionism continue to weigh.

U.S. equity funds lost $24.2 billion in their third-largest ever weekly outflows, data showed.

Outflows from emerging market (EM) equity and debt funds also accelerated as investors shed EM assets, betting on a hit to emerging economies from a sharp rise in the U.S. dollar.

Some $18 billion flowed out of EM equity and debt funds in June after an $8 billion outflow in May.

The tech sector, which has so far been resilient to trade worries, continued to draw in flows of $0.8 billion.

The sector is on a year-to-date total of $19 billion inflows while $9 billion has left all other sector funds.

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