Global equity funds saw inflows hit a seven-week high of $50.99 billion in the week to November 11. European funds led this growth with $35.13 billion, the largest total since June 2021. Strong earnings and lower crude oil prices helped, even as investors pulled money out of global bond funds.
Nov 13 (Reuters) - European funds led inflows into global equity funds in the week to November 11, supported by strong earnings and lower crude oil prices, despite a recent selloff in US technology stocks.
Net inflows of $35.13 billion into European funds — the largest weekly total since June 2021 — helped lift total net inflows into global equity funds to $50.99 billion, their highest since September 23, according to LSEG Lipper data.
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US and Asian equity funds attracted net purchases of $6.6 billion and $6.15 billion, respectively, during the week.
Among sectoral funds, technology, healthcare and financials attracted net inflows of $2.62 billion, $833 million and $820 million, respectively, while industrials recorded weekly net outflows of $1.07 billion.
Global bond funds recorded net weekly outflows of $507.89 million, ending a seven-week run of inflows.
Government bond funds saw net outflows of $488.8 million, following net inflows of $5.17 billion in the previous week. Investors also withdrew a net $1.72 billion from dollar-denominated global bond funds, while purchasing a net $2.07 billion in corporate bond funds.
Investors also withdrew a net $37.48 billion from money market funds after making net purchases of $174.22 billion in the previous week.
In commodities, gold and other precious metals funds remained popular for a second straight week, attracting net inflows of $614 million. Investors also bought $215.43 million in energy funds, extending the recent streak of net purchases to four consecutive weeks.
In emerging markets, equity funds attracted a net $4.65 billion, their largest weekly inflow in three weeks. However, investors withdrew a net $657.44 million from bond funds, marking a third consecutive week of outflows, data for a combined 29,202 funds showed.