Inflows into equity funds around the world have been presented as the driver of the next leg higher in this 'secular' bull market. As liquidity slooshes around the world there is nothing but hot money chasing what 'worked' not what will work... or, as investors have now been conditioned to do, BTFD. US asset gatherers' dissonance is high as they know the pillars of their 'just keep buying' thesis remain wobbly at best (and broken in all honesty) but flows (aside from the fact that retail appears to have just folded) are holding hope ransom for now. So what nation saw the largest relative equity fund inflows in the world?
unexpectedly Poland :)
Foreign investors apparently believe that the positive conclusion of the dispute over the liquidation of the Open Pension Funds ?
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| Pic. 1. 3-Month Flows into Equity |
best regards,
oscarjp
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