For their part, stock funds globally attracted inflows of $5.56 billion, keeping up demand after the funds gained $8.88 billion in new money the previous week. Inflows into funds that hold US stocks accounted for $1.16 billion of that total.
Emerging market stock funds accounted for much of the overall demand for stock funds worldwide with inflows of $4.44 billion.
The overall inflows into stock funds was mostly a result of investors piling into exchange-traded funds, EPFR Global said. ETFs, which are generally believed to represent the behavior of institutional investors, can be used opportunistically to bet on various indexes.
ETFs that track the benchmark S&P 500 stock index offer higher yields and dividend growth compared to the low interest rates on bond funds, said Jim Awad, managing director at Zephyr Management in New York.
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