The Swiss bank UBS (UBS) had write-downs in the billions last week. Around the same time, mutual funds investing in the country began experiencing inflows. Year-to-date, those funds have reported $2.4 billion in inflows, the bulk of which took place last week, reports Trang Ho for Investor’s Business Daily.
It’s a turnaround from last year, when those funds experienced $280 million in outflows.
iShares MSCI Switzerland (EWL) has gained 1% during the past year. Year-to-date, it’s down 0.6%, but in the last month, it’s moved up 2.9%.