Sovereign wealth funds poured a net $7.1 billion into stocks during the second quarter, the most in several years, with the bulk outside the United States, data showed on Thursday.
The funds also pulled a net $5.2 billion out of fixed income during that period, the most since the first quarter of 2019, according to the eVestment data on strategies managed by third-party fund managers.
Global large-cap growth equity strategies took in the most investment during the quarter, a net $6 billion. U.S. equity strategies pulled in only a net $704 million during that time.
That was far short of the flows into U.S. equities in the first quarter as the coronavirus spread around the world.
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