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More people put cash into long-only investment funds last week than withdrew money, representing the first weekly net inflow for 12 months. Bank of America Merrill Lynch says this move signals ‘rising investor confidence’.
The net inflow was $0.5bn and coincides with a period when US stock markets are trading at record highs.
Long-only funds are products where the fund manager only buys stocks in the belief they will go up in value. They do not contain any bets that stocks will fall in value, which is called going ‘short’.
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