There are more than 70 times as many stock market indexes as there are actual stocks, many created by selective backtests and used by asset managers to market new funds, with minimal disclosures or oversight.
U.S. equity funds extended their longest run of inflows since 2013 as investors continue to pull money from most other developed markets.
China equity funds pulled in over $1 billion last week, the fifth time they’ve had that mark so far this year. Meanwhile, investors are pulling money from other emerging market funds.
