The rise in “sell America” chatter this year seems to have been matched by investor appetite for non-US stocks.
Flows into non-US exchange-traded funds hit more than $20 billion in June, the second-highest monthly amount ever, according to data from State Street.
State Street Investment Management
The flows into non-US stocks accounted for 45% of all flows, significantly higher than the rolling 12-month average of around 17%.
The breadth of flows into non-US-focused funds was also wide.
“80% of non-US equity ETFs had inflows in June — above the normal hit rate of 74%,” Matthew Bartolini,…
