Equity funds saw an outflow of investor funds for the week ending November 24. This is the second weekly outflow in this year, according to BofA's weekly report released on Thursday, which may potentially indicate a shift in investor preferences of risk.

In 2021, investors have poured more than $1 trillion in equities. This amount is bigger than in the last 19 years combined, BofA analysts say, citing EPFR data.

The outflow of funds last week was triggered by the rise in bond yields and strengthening of US Dollar. Also signs of emerging risks related to new Covid strain could be a trigger of sales.

Investors pulled out more about $3.9 billion from emerging market bond and equity funds – this is the biggest outflow since May 2020.