今年头3个月，全球投资者从股票型基金中撤出了近1000亿美元资金，这一创纪录的转变加速了投资者撤离美国和西欧股市的长期趋势。

Investors worldwide pulled close to $100bn out of equity funds in the first three months of this year – a record shift that accelerates a longer-term trend away from US and western European stockmarkets.

新兴投资组合基金研究公司(Emerging Portfolio Fund Research)的数据显示，在截至3月28日的第一季度，有980亿美元资金流出股票型基金。这些基金去年同期净流入资金190亿美元，2006年同期流入490亿美元。新兴投资组合基金研究公司跟踪散户和机构投资者资金流向。

Equity funds suffered outflows of $98bn in the quarter ending March 28, according to Emerging Portfolio Fund Research, which tracks retail and institutional flows. The funds had inflows of $19bn during the same period last year and inflows of $49bn in the same period for 2006.

该公司表示，这些基金出现资金流出是因为“美国次贷相关信贷紧缩严重影响了投资者信心和全球经济增速”。 EPFR said the outflows were because “the credit squeeze linked to the US subprime debt mess weighed on investor confidence and global growth”.

这些资金流出还增强了一个趋势：投资者或者将资金投入极其安全的现金品种（如货币市场基金），或者投入风险更大的市场和高收费产品（如对冲基金）。他们开始放弃中间选择：主流的股票基金和固定收益基金，尤其是在发达市场。

The outflows also accelerate a trend for investors to put their money either in ultra-safe cash options such as money market funds, or into riskier markets and high-fee products such as hedge funds. They are abandoning the middle ground of mainstream equity and fixed income funds, especially in the developed markets.

第一季度，投资者从美国、日本和西欧的基金撤出了700亿美元，而去年和此前的多数年份均为资金净流入。

Investors pulled $70bn from US, Japan and Western Europe funds during the quarter, compared with inflows last year and in most previous years.

今年出现资金净流入的基金，几乎都关注于台湾、俄罗斯、中东和非洲。新兴市场基金总体净流出200亿美元，高于上年同期的16亿美元。

Funds enjoying inflows were nearly all focused on Taiwan, Russia, the Middle East and Africa. Emerging markets funds as a group had outflows of $20bn, compared with a small outflow of $1.6bn in the same period last year.