According to Refinitiv Lipper data, investors bought a net $10.19 billion worth of U.S. equity funds, compared with purchases of $7.93 billion in the previous week.
GRAPHIC – Fund flows: US equities, bonds and money market funds
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Solid earnings beats from Apple Inc (NASDAQ:AAPL) and energy giants Chevron (NYSE:CVX), Exxon Mobil (NYSE:XOM) also boosted investor confidence during the reported week.
Investors purchased U.S. large- and small-cap equity funds worth $6.62 billion and $1.59 billion respectively, although mid-cap funds witnessed outflows of $473 million.
By sector, health care, tech and consumer staples funds obtained inflows worth $630 million, $478 million and $393 million respectively. However, the U.S. Federal Reserve hiked the interest rates by 75 basis points and said the peak for rates would likely be higher than previously expected.
GRAPHIC – Fund flows: US equity sector funds
https://fingfx.thomsonreuters.com/gfx/mkt/jnpwygzqopw/Fund%20flows%20US%20equity%20sector%20funds.jpg
Meanwhile, outflows from bond funds stood at just $14 million, a seven-week low. Investors purchased U.S. high yield bond funds of $5.07 billion, which was their biggest weekly net buying since August 2020, but government bond funds witnessed $1.75 billion worth of withdrawals after luring inflows for nine straight weeks.
GRAPHIC – US bond funds
https://fingfx.thomsonreuters.com/gfx/mkt/byprlodzgpe/Fund%20flows%20US%20bond%20funds.jpg
Money market funds drew $46.64 billion in inflow after posting two weeks of outflows in a row.
Source: Economy - investing.com
