Global equity fund inflows slowed sharply in the week to June 24, as concerns over debt-funded technology spending and a hawkish stance of the U.S. Federal Reserve cooled risk appetite. Investors purchased a net $7.51 billion worth of global equity funds during the week, down about 86% from net buying of $55.53 billion in the previous week.
Technology Sector Funds Affected
Technology sector funds logged weekly net outflows of $17.83 billion, broadly reversing the previous week’s $21.5 billion in inflows. Financial and industrial sector funds also recorded net sales of $750 million and $1.04 billion, respectively.
Investors, meanwhile, bought a net $10.85 billion worth of bond funds, extending their recent buying streak into a 12th straight week. Global hard-currency bond funds, short-term bond funds and dollar-denominated medium-term bond funds attracted notable inflows of $3.1 billion, $2.42 billion and $1.87 billion, respectively.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
