What does the 'FLOWS' function depict on the Bloomberg terminal?

The 'FLOWS' function on the Bloomberg terminal is designed to provide insights into fund flows and investor activity across different asset classes. This functionality allows users to analyze how capital is moving within the markets, including which sectors or asset classes are experiencing increased or decreased investment. By tracking these flows, investors can gauge market trends, sentiment, and the behavior of institutional investors. This is particularly useful for making informed investment decisions and understanding market dynamics in real time.

The other options do not accurately describe the purpose of the 'FLOWS' function. While investor sentiment may be influenced by fund flows, it is not specifically what the function depicts. Historical company earnings data is unrelated to fund flows, as is the current exchange rates for currencies, which pertains to different financial instruments altogether.