Investors' appetite for riskier assets increased as data
from the U.S., China and the euro zone showed strong demand for
services in February.
But global equities came under selling pressure on Friday
after a startup-lender Silicon Valley Bank flagged
higher-than-expected "cash burn" from clients, falling deposits
and rising costs of capital, triggering fears of banking-system
stress.
European equity funds attracted a net $4.76 billion worth of
inflows, but U.S. and Asian funds were out of favour with $1.23
billion and $760 million in net disposals.
Among sector funds, industrials and financials received
inflows of $516 million and $339 million respectively, while the
healthcare sector recorded $914 million in outflows.
Global bond funds attracted inflows for a 10th straight week
as they received $5.72 billion net.
Global government bond funds received $3.77 billion in a
fourth straight week of inflows, but high-yield and short- and
medium-term bond funds had outflows of $168 million and $132
million, respectively.
At the same time, money market funds secured inflows worth
$15.39 billion for a second straight week of net buying.
Among commodity funds, investors exited precious metal funds
for a third straight week, removing $649 million, while
withdrawing a marginal $89 million from energy funds.
Data for 23,826 emerging market funds showed equity funds
secured a ninth weekly inflow worth $1.35 billion. Investors
also purchased a net $367 million in bond funds after three
weeks of net selling in a row.
<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Fund flows: Global equities, bonds and money market Fund flows: Global equity sector funds Global bond fund flows in the week ended March 8 Fund flows: EM equities and bonds ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
(Reporting by Gaurav Dogra and Patturaja Murugaboopathy in
Bengaluru; editing by Barbara Lewis)
March 10 (Reuters) - Global equity funds drew their
first weekly inflow in four weeks in the seven days to March 8
after strong consumption boosted the service sector in some
major economies, easing worries over a recession.
Still, expectations for further rate hikes by the Federal
Reserve to curb inflation capped inflows.
Data from Refinitiv Lipper showed global equity funds
obtained inflows worth a net $2.36 billion in the week to March
8, the most since Feb. 1.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.