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According to Refinitiv Lipper data, global equity funds saw a
net $2.81 billion in inflows after booking about $15.96 billion
worth of outflows in the previous week.
Robust readings on new U.S. home sales and consumer confidence
helped soothe investors' worries over a looming recession as the
Federal Reserve seeks to cool demand to tame inflation.
Chinese Premier Li Qiang said this week China would take steps
to boost demand, invigorate markets and promote development, and
added that its economic growth in the second quarter would be
higher than the first quarter.
The U.S. and Asian equity funds attracted $2.1 billion and $1.16
billion, respectively, in inflows, while European funds saw
about $1 billion worth of net outflows.
Sectoral equity funds, however, suffered net selling of $1.38
billion, with materials and consumer staples losing $530 million
and $373 million, respectively, while utilities saw $303 million
in outflows.
Meanwhile, global bond funds drew $6.95 billion in net purchases
after posting about $857 million in outflows in the previous
week.
Global government bond funds received a net $3.1 billion, the
biggest inflow in five weeks. Investors also purchased $786
million worth of corporate bond funds but sold $1.04 billion of
high-yield funds.
Money market funds recorded outflows for a third straight week,
amounting to a net $31.68 billion.
Data for commodity funds showed that investors offloaded $728
million worth of precious metal funds in their fifth straight
week of net selling. Energy funds also booked outflows of about
$193 million.
Meanwhile, demand for emerging market funds sustained for a
third successive week, with investors pouring a net $89 million
and $14 million into equity and bond funds, respectively.
(Reporting by Gaurav Dogra and Patturaja Murugaboopathy in
Bengaluru; Editing by Vinay Dwivedi)
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