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Global equity fund inflows surge to three-week high before late selloff
Global equity funds pulled in $22.01 billion for the week ending August 19, even as higher government bond yields and elevated oil prices later pressured markets.
Global equity funds saw their biggest weekly inflows in three weeks through August 19, data compiled by LSEG Lipper showed, as investors positioned for a strong earnings season.
Reuters reports that the inflows came in ahead of a late-week selloff, with markets pressured by rising bond yields, higher oil prices, and renewed inflation concerns. Global stocks were on track for their steepest weekly decline since mid-July.
According to Reuters, inflows reached $22.01 billion for the week, with U.S. equity funds taking in $11.72 billion, their largest weekly inflow since July 29. Roughly 90% of MSCI World companies had reported second-quarter results, and LSEG data showed combined net income up 39.7% from a year earlier.
Reuters also said investors rotated within funds, including $536 million of purchases in gold and precious-metals equity funds and $15.42 billion of inflows into bond funds for a 20th consecutive week. In addition, technology sector funds gained $1.55 billion after a prior week of outflows, while financial-sector funds were net sold.
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