June 5 : Global equity fund inflows surged to a three-week high in the week to June 3 as a set of robust earnings in the technology sector and investor enthusiasm over the AI boom bolstered demand.According to LSEG Lipper data, global equity funds attracted a net $21.44 billion during the week, the largest amount since May 13.Dell and HP reported blockbuster results and rallied 42.6 per cent and 7.1 per cent, respectively, last week.The tech rally lifted the MSCI World Index to a record high of 1,138.3 earlier this week.
European funds led regional inflows with a net $11.16 billion of investment during the week. U.S. and Asian funds saw net inflows of $7.43 billion and $760 million, respectively.Investors pumped $9.02 billion into technology sector funds in their biggest weekly net purchase since May 13. The industrials, and metals and mining sectors also gained $1.61 billion and $747 million, respectively.Global bond funds attracted $24.23 billion as inflows extended into a ninth successive week.Dollar-denominated medium-term bond funds, short-term bond funds and high-yield bond funds attracted net inflows of $3.13 billion, $2.89 billion and $2.53 billion, respectively.Global money market funds drew a net $159.83 billion worth of inflows, the largest weekly net purchase since January 7.Gold and other precious metals commodity funds lost a net $1.94 billion, for a third successive weekly outflow.In emerging markets, investors divested a net $2.42 billion worth of equity funds, a sixth successive weekly net sale. Bond funds, however, drew $787 million of net inflows, data for a combined 28,972 funds showed.
