According to Refinitiv Lipper data, global equity funds faced $8.72 billion worth of outflows in the week to May 17, compared with about $4.77 billion worth of net selling in the previous week.
The U.S. and European equity funds recorded withdrawals of $7.64 billion and $1.81 billion respectively during the week, but Asian funds received $180 million worth of inflows.
Healthcare, financial and energy sector equity funds faced net outflows of $698 million, $677 million, and $410 million, respectively, but tech secured a net $906 million worth of inflows.
Meanwhile, investors favoured safer government bond funds and money market funds as both obtained a fourth weekly inflow in a row, worth about $2.23 billion and $9.96 billion, respectively.
The data also showed that combined net inflows into global bond funds stood at $4.31 billion during the week, with short- and medium-term funds drawing a net $3.45 billion worth of inflows. Meanwhile, high yield funds had about $2 billion worth of outflow.
Among commodities, precious metal funds received $236 million marking a fourth straight week of inflows but investors exited $84 million worth of energy funds after three weeks of net buying in a row.
Data for 23,976 emerging market funds showed equity funds obtained a net $684 million in a third weekly inflow in a row, while bond funds drew $43 million worth of net purchases after three weeks of outflows.
Source: Economy - investing.com
