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Internet outflows from the biotechnology sector continued this week, with roughly $550 million leaving healthcare and biotech funds for the week ended Wednesday, Piper Sandler analysts highlighted in a word.
This quantity interprets to a 0.48% discount in belongings.
Outflows mark the fourth week of funds exodus previously six weeks for the sector, with year-to-date internet fund flows now amounting to about $2 billion in outflows.
In the meantime, the “All Equities” class additionally skilled internet outflows for the primary time in six weeks, indicating a 0.03% lower in belongings throughout the identical weekly interval.
“As we see it, this can be a key dynamic to watch as intervals of internet inflows traditionally correspond with biotech outperformance whereas intervals of internet outflows usually correspond with sector underperformance,” analysts at Piper Sandler stated.
“This week’s information level encompasses 126 funds (together with ETFs) with ~$111B in belongings,” they identified.
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