Oct 30 (Reuters) – Global equity funds saw substantial inflows in the week ended October 28, though at a slower pace, as a rebound in AI and chip stocks, led by South Korea’s SK Hynix after record quarterly profit, lifted demand for technology and Asian funds.
Investors bought a net $10.19 billion in global equity funds for a sixth consecutive week of net purchases, though inflows eased from $25.06 billion the previous week, according to LSEG Lipper data.
There was, however, some caution in markets over the AI trade ahead of earnings reports from AI hyperscalers Alphabet, Microsoft and Amazon.
Asian equity funds led regional inflows, attracting $9.9 billion in net purchases, after $11.58 billion the previous week. Investors added $4.54 billion to European funds but withdrew a net $6.65 billion from US equity funds.
Among sectoral funds, investors allocated $5.5 billion to the technology sector, up from $5.07 billion the previous week. Industrial sector funds also drew $408 million, while utilities saw $928 million in outflows.
Weekly net inflows into global bond funds cooled to a six-week low of $2.72 billion.
Global short-term bond funds saw $2.67 billion in weekly outflows—the first net sales since April 15—while investors bought $2.62 billion in government bond funds and $1.01 billion in corporate bond funds.
Meanwhile, money market funds recorded net outflows of $38.5 billion, reversing from $16.95 billion in inflows the previous week.
In commodities, investors withdrew $1.51 billion from gold and other precious metal funds, marking a second week of net sales in the past seven weeks. Energy funds, however, attracted $177 million in inflows.
Data covering 29,184 emerging-market funds showed equity funds remained popular for a third straight week, drawing $2.2 billion in net inflows. Bond funds, however, saw net sales of $1.85 billion, their largest weekly outflow since September 30.
(Reporting by Gaurav Dogra; Editing by Tasim Zahid)