U.S. and European money market funds obtained $47.72 billion and $1.89 billion worth of inflows, respectively, during the week. But Asia funds suffered about $90 million worth of outflows. Investors have sought out U.S. money market funds avidly this year on worries over a recession and concerns about the safety of uninsured bank deposits after the failure of two regional banks, including Silicon Valley Bank. In turn, money has been pulled from global equity funds, considered more exposed. Among money market funds, Morgan Stanley Institutional Liquid Government securities fund , State Street US Government Money Market Fund and Invesco Government & Agency Portfolio Fund led inflows during the week, receiving $12.15 billion, $8.1 billion and $4.6 billion, respectively. Meanwhile, global equity funds saw $8.89 billion worth of net selling, the biggest weekly outflow in four weeks, undermined by lacklustre first-quarter results.
Investors sold tech and healthcare funds of $860 million and $441 million, respectively, while financials obtained a third weekly inflow worth $489 million.
Earnings from a wide range of companies, including 3M Co , General Motors Co , PepsiCo Inc , United Parcel Service Inc and McDonald's Inc , provided a mixed picture of corporate profit and outlook.
Meanwhile, global bond funds drew $3.57 billion in inflows compared with net purchases of $124 million the previous week. Government bond funds saw purchases of $3.15 billion after $1.68 billion worth of net selling in the previous week. Investors withdrew $407 million from short- and mid-term bond funds after three straight weeks of net buying.
Among commodities, precious metal funds obtained $656
million in their biggest weekly inflow in three weeks, while
energy funds saw about $6 million worth of net buying after
three weeks of net selling in a row.
Data for 23,940 emerging market funds showed investors sold
$230 million worth of equity funds after four consecutive weeks
of net buying. They also exited $130 million worth of bond
funds.
<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Fund flows: Global equities, bonds and money markets Fund flows: Global equity sectors Global bond fund flows in the week ended April 26 Fund flows: EM equities and bonds ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
(Reporting by Gaurav Dogra and Patturaja Murugaboopathy in
Bengaluru;Editing by Elaine Hardcastle)
