Latest figures from data firm EPFR Global show investors sought refuge in gold and US bonds last week in a bid to evade current market turmoil. Analysis from the firm revealed that in the week ending May 19 the commodity sector funds recorded another $1 billion (€820 million) week of net inflows, with US bond funds coming in second place amongst the small number of sectors which attracted fresh money. Flows into and out of EPFR Global tracked funds reflected the uncertainty seen in markets in recent weeks and the resulting heightened risk aversion. Redemptions from high yield bond funds topped $1 billion, seven of the nine major sector fund groups posted outflows and Europe equity funds had their worst week since late April 2008. Investors, however, did pull $33.9 billion out of money market funds, and inflows into emerging market bond funds also pointed to a continuing desire among investors to put money to work. Overall, EPFR Global-tracked equity funds posted net outflows of over $12 billion while bond funds recorded inflows of $212 million. EPFR Global receives flow data directly from fund firms on a daily and weekly basis. The firm's covered by its analysis account for some $7 trillion in assets.

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