Since the beginning of 2023, investors have drawn at least $27 billion from European funds because they do not believe in its effectiveness. In this respect informs Bloomberg cites data from Bank of America Corp.
When it comes to underperforming European stocks, investors want to get their money’s worth. So, for 16 consecutive weeks, the region’s equity funds have been suffering from investment outflows. As a result, European funds lost $27 billion.
The publication stated that between June 19-25, it experienced the largest fund outflow of $ 4.6 billion from Europe in just one week. At the same time, analysts think that this is due to investors’ preference for American funds. which has more impact and weight. In addition, investors from the USA for the first time in 2023 started to get rid of European stocks as commercial activities in the region decreased.
November 15 Bloomberg reportedLondon was replaced by Europe’s largest stock exchange, Paris. According to the agency, the total value of the shares of companies traded on these exchanges is $2.823 trillion for the French stock market and $2.821 trillion for the British stock market.
Previously reportedthat investors pulled $83 billion from European exchange-traded funds in six months.