‘Mountain of Cash’ Swells to $4.5 Trillion as Investors Rush to Safety
- Weekly BofA data show $52.7 billion inflow into cash funds
- Strategists recommend balanced diversification across assets
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Among all the major asset classes, cash is king right now.
Weekly flow data from Bank of America Corp. and EPFR Global continue to show a clear investor preference for money-market funds. Assets under management in this category have swelled to $4.5 trillion following seven week of inflows that added $877 billion to the cash pile.