The amount of money being put into emerging market equities funds has returned to pre-crisis levels, according to new research, as investor appetite for the asset class mirrors a rise in allocations to bond funds in developing economies.

Almost $18bn (€13.2bn) was invested in emerging market equity funds during the eight weeks to March 13, the highest level of inflows over such a period since January 2007, according to a report from Bank of America Merrill Lynch.