(Updates with data, adds byline)
By Daniel Bases
NEW YORK, March 18 (Reuters) - Investors pulled a record$61.1 billion from money market mutual funds in the week endedMarch 17, according to fund tracker EPFR Global.
The firm said on Thursday the net outflow of cash fromthese funds, which are typically viewed as places whereinvestors can stash money for safe-keeping, is more than $256billion year-to-date.
"Overall, EPFR Global-tracked equity funds took in a net$5.7 billion while collective flows into bond funds againexceeded $6 billion," the statement said.
In addition to the EPFR Data, the Investment CompanyInstitute, a trade group, earlier reported its own money marketmutual fund flow data, showing a decrease of $73.71 billion, to$3.017 trillion for the week ended March 17.
ICI"s data includes both retail and institutional moneymarket mutual funds. [ID:nWALIEE649]
REGIONAL EQUITIES
European equity funds, for a fifth week in a row, stood outas the only big developed equity market fund group to sufferoutflows. In the latest week investors redeemed $1.06 billion.
This group had its biggest weekly outflow since the secondquarter of 2009 "as calls for fiscal discipline to blunt theimpact of Greece"s fiscal problems fueled fears of stagnantgrowth or, in the worst case, a double-digit recession for theEurozone," Cambridge, Mass.-based EPFR wrote.
Japan-focused equity funds took in $176.5 million in netnew cash while U.S. equity funds had net inflows of $3.54billion. Year-to-date however U.S. equity funds have had a netoutflow of $11.9 billion.
Japan equity funds have inflows year-to-date of $2.2billion with 12 straight weeks of fresh cash being added "asinvestors respond to a strengthening of the export cycle andthe Bank of Japan"s commitment to keep monetary policy loose inorder to combat inflation".
Asia ex-Japan equity funds led emerging markets, taking in$730 million in the latest week.
In EMEA (Europe, Middle East, and Africa), Russia-focusedequity funds had inflows of $253 million, benefiting from oilprices holding above $80 a barrel.
Dedicated long-only emerging market equity funds increasedtheir net inflows for a third week, taking in $1.75 billion.
Africa regional funds took in fresh cash for a 28thconsecutive week while Turkey-focused equity funds had outflowsfor a seventh week in a row "against a backdrop of risinginflation, political tensions and the government"s decision notto seek a new IMF deal," EPFR wrote.
Among the sector funds, net new cash flowed into financial,energy, real estate and technology.
Financial-focused equity funds took in a net $516 million,a 12-week high. Real estate sector funds took in $246 million,benefiting from the low interest rate environment in the UnitedStates.
Defensive sectors such as consumer goods,healthcare/biotechnology and utilities had outflows.
Mexico benefited from optimism about the U.S. economy,taking in a net $149 million, while China equity funds hadoutflows for the ninth week out of the last 11, losing a net$7.9 million to redemptions. Fresh cash did find its way intoHong Kong ($229 million), India ($101.3 million), and Korea($89.6 million) equity funds.
BOND FUNDS
High-yield bond funds, having set a record inflow the priorweek, took in another $954 million. Emerging market bond fundstook in a total of $587 million.
U.S. bond funds had inflows for a 63rd consecutive week,bringing in $2.6 billion. (Editing by Jan Dahinten)
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