Flows are rotating into Industrial Enzymes & BioSolutions while Cancer Biotech Focus weakens

🇪🇺 Equities are experiencing a sharp tilt toward outflows, with 33 clusters exiting versus just 15 inflows, signaling a broadening retreat. The standout outflow is from the Cancer Biotech Focus, led by $GMAB-CO with a hefty -$636M, marking the largest single exit in the session. Meanwhile, inflows remain concentrated in niche themes like Industrial Enzymes & BioSolutions, led by NSIS-B-CO, which attracted +$52M. This shift indicates investors are pulling back from high-profile biotech and healthcare themes, favoring more specialized pockets like industrial enzymes. The key test now is whether the NSIS-B-CO-led inflow can sustain and broaden, confirming a genuine rotation rather than a fleeting pause. Next, watch if the broad outflow persists across other sectors or if selective inflows reassert dominance.