REUTERS: Global equity funds attracted massive inflows of investments in the week ending on May 5, boosted by strong corporate earnings and rising hopes of a faster global economic recovery.
According to Refinitiv Lipper data, global equity funds attracted US$12.9 billion worth of inflows, the highest amount in three weeks.
Cyclical sectors led the inflows as more industries reopened after pandemic lockdowns and people started to splurge on discretionary items.
Title: Fund flows into global equities bonds and money markets, https://fingfx.thomsonreuters.com/gfx/mkt/qmyvmeoqgvr/Fundper cent20flowsper cent20intoper cent20globalper cent20equitiesper cent20bondsper cent20andper cent20moneyper cent20markets.jpg
Title: Global bond funds flows in the week ended May 5, https://fingfx.thomsonreuters.com/gfx/mkt/gjnvwnykkpw/Globalper cent20bondper cent20fundsper cent20flowsper cent20inper cent20theper cent20weekper cent20endedper cent20Mayper cent205.jpg
Financial sector funds received US$1.94 billion, the highest in five weeks, while mining and consumer discretionary sectors received US$672 million and US$473 million respectively.
However, investors continued to sell funds that invest in Indian equities due to soaring coronavirus cases and deaths in the country, which have raised concerns of a national lockdown.
Meanwhile, global bond funds obtained inflows worth US$17.16 billion, the biggest in three weeks.
On the other hand, investors sold US$21.6 billion in global money market funds, pointing to a rise in risk appetites.
Title:Global fund flows into equity sectors, https://fingfx.thomsonreuters.com/gfx/mkt/dgkvlowqdpb/Globalper cent20fundper cent20flowsper cent20intoper cent20equityper cent20sectors.jpg
Among commodities, US$46 million left precious metal funds after marginal inflows of US$1 million the previous week.
An analysis of 23,845 emerging-market funds showed equity funds received a net US$17 million, the lowest since September 2020, while bond funds had US$268 million in outflows.
Title: Fund flows into EM equities and bonds, https://fingfx.thomsonreuters.com/gfx/mkt/yzdvxzdjqvx/Fundper cent20flowsper cent20intoper cent20EMper cent20equitiesper cent20andper cent20bonds.jpg
(Reporting by Gaurav Dogra and Patturaja Murugaboopathy in Bengaluru; Editing by David Clarke)