| NEW YORK
Investors ramped up their exposure to U.S.-based international-focused stock funds on relief that centrist Emmanuel Macron took the first round of voting in the French presidential election, reducing the prospect of an anti-establishment market shock.
International-focused stock funds attracted $1.8 billion in the week ended April 26, compared with inflows of $1.3 billion heading into the French election, according to data from Thomson Reuters" Lipper service on Thursday. It was the group"s sixth straight week of inflows.
"While markets had deemed a Marine Le Pen-Emmanuel Macron run-off as the most likely outcome, there was an element of uncertainty," said Tom Roseen, head of research services at Thomson Reuters Lipper. "That uncertainty is gone and investors feel more comfortable increasing their exposure to international equities."
For their part, U.S.-based European stock funds attracted $720 million over the weekly period, their biggest inflows in four weeks, Lipper data showed.
Roseen noted Germany"s DAX was up a whopping 5.37 percent during the reporting period of April 19 and April 26 "which underscored the appetite for international and European funds. There were really strong rallies everywhere."
Investors in U.S.-based funds poured $7.2 billion into stock funds in the week ended Wednesday, marking the biggest inflows in seven weeks, data from Thomson Reuters" Lipper service showed on Thursday. Taxable bond funds attracted $6.3 billion to mark their sixth straight week of inflows.
(Reporting by Sam Forgione; editing by Bernard Orr and Grant McCool)
International stock funds attract .8 billion post-French election
International stock funds attract .8 billion post-French election
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