BofA Warns Of "Tech Mania" Risk: Sees Highest Tech Inflows Since Dot Com Bubble
As one would expect, in a week that saw the biggest one-day drop in US equities since last September, retail investors bailed on US stocks resulting in what BofA dubbed "risk-off flows" as $1.6 billion was pulled from global equities - with active managers once again getting the short end of the stick, with $4.3 billion in outflows from mutual funds, largest in 7 weeks while another $2.7 billion flowed into ETFs - offset by $9.7 billion inflows to bonds and $0.2 billion to gold.