US equity funds drew inflows in the week to July 29, snapping a two-week streak of outflows, as investors added exposure to mega-cap technology funds during a recent selloff on bets that the market rally could continue.
Investment Trends
Investors bought a net $11.83 billion in US equity funds, more than reversing the combined $10.68 billion in outflows recorded over the previous two weeks, according to LSEG Lipper data. US large-cap funds saw the largest weekly net purchase since June 24, with $11.57 billion invested.
Technology-sector funds attracted $4.9 billion, their largest weekly inflow since July 8. Financials and consumer staples also recorded net purchases of $1.96 billion and $751 million, respectively.
Inflows into US bond funds slowed to a 15-week low of $1.34 billion during the week. Money market funds recorded net outflows of $11 billion for a third consecutive week.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
