Global equity funds see first weekly inflows in seven weeks
- Date: 28-May-2022
- Source: Zawya
- Sector:Financial Markets
- Country:Middle East
Global equity funds see first weekly inflows in seven weeks
Global equity funds saw money inflows in the week to May 25 as some investors took heart from a rebound in markets this week, after sharp declines in stock markets in the previous seven weeks.
According to Refinitiv Lipper, investors bought a net $6.16 billion worth of global equity funds, marking their first weekly net buying since April 6.
The MSCI all country world index has gained over 3% this week, after slumping about 12.7% in the last seven weeks on worries that aggressive rate increases to tame inflation could send the global economy into a tailspin.
The big inflows into global equity funds were also due to the creation of new shares in the equity exchange-traded funds (ETF), Jefferies said in a note.
The data showed equity ETFs saw inflows worth $15.76 billion in the week, the highest in nine weeks.
U.S. and Asian equity funds had inflows of $4.61 billion and $1.22 billion, respectively, but European funds attracted just $0.13 billion.
Chinese equity funds obtained $0.58 billion, marking their first weekly net buying in seven weeks.
Data for sector funds showed industrials drew inflows of $713 million but financials and tech continued to face outflows, amounting $1.74 billion and $1.44 billion, respectively.
Meanwhile, investors sold a