European equity funds continue to bleed: BofA-ML/EPFR

European equity funds posted their 36th straight week of outflows, with money that has left the asset class this year now approaching $100 billion, Bank of America Merrill Lynch said, citing data from EPFR Global.

Global investor sentiment is neither too bearish nor too bullish – or in “goldilocks” territory – BofA-ML said, as fund flows continue to show a preference for bonds and emerging markets.

European equities have fallen out of favour among foreign investors in particular as sluggish earnings growth, an uncertain economic outlook on the back of Britain’s vote to leave the European Union and worries over the profitability of the region’s banks have soured the mood.