Japanese equity funds have seen the largest even outflows in US dollar terms as investors rushed for safe-haven cash, latest data from Bank of America Merrill Lynch reveals.
In the week to 9 October investors pulled $1.7bn (£1.1bn) from Japanese equity funds, the largest ever weekly outflow in US dollar terms and the highest since December 2011 as a percentage of AUM. Japanese equities have been popular with many investors this year as they continue to back the country's Abenomics programme of reforms. However, so far this year Japan's Nikkei 225 index has failed to repeat the spectacular gains of 2013, when it rose 57%: year to date it is down 4.7%. A tough week for global equities generally saw added problems for Japan on Tuesday as the International...
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