Investors added onto junk-rated bond funds as the new consensus in markets was to "buy what the Fed buys", BofA's note on fund flows showed on Friday.

In otherwise a risk-averse week, investors piled $126.4 billion into cash, dumping emerging market equities.

Junk-rated bond funds attracted $4.3 billion in the week to Wednesday as the US Federal Reserve's pledge buy some speculative-grade debt helped sentiment.

Equity funds saw $7.3 billion in outflows for the week to Wednesday, the BofA data showed. Emerging market equity funds saw $7.4 billion in outflows.