Second Highest Weekly Inflow on Record
According to research firm EPFR Global (via Bloomberg.com), equity mutual funds posted their second highest weekly inflow on record during the first week of January.
According to EPFR Global, a staggering $22 billion poured into global equity funds during the first week of the year, which is the second highest weekly total on record since EPFR started tracking the data back in 1996. The highest week on record remains the third week of September of 2007, when approximately $23 billion was added to equity mutual funds.
The Bloomberg article also points out that emerging-market equity funds took in a record amount of money ($7.4 billion) in the week ending January 9th.
Investors are in good spirits right now.
The S&P 500 is within striking distance of its all-time high, while the Dow Jones Industrial Average is less than 1,000 points away from its all-time high.
With the "fiscal cliff" situation now behind us, investors seem to be positively giddy about the markets.
The big question - is this large inflow a sign of an impending market top?
Source: Bloomberg.com - Equity Mutual Funds Post Second-Biggest Weekly Inflows
Filed under: General Market News