April 28 (Reuters) - U.S. money market funds drew
massive inflows in the week to April 26 as investors preferred
safer assets amid nagging worries about the regional banking
sector and prospects of an imminent recession.
Refinitiv Lipper data showed investors purchased a net
$47.72 billion worth of U.S. money market funds in their biggest
weekly net buying since March 29.
Investors were worried that the U.S. regional banking crisis
may not be over yet as First Republic Bank reported a
more than $100 billion plunge in deposits in the first quarter.
Meanwhile, U.S. equity funds faced a fifth straight week of
outflows, with investors exiting a net $3.75 billion worth of
funds.
By sector, tech and consumer discretionary witnessed net
selling of $842 million and $335 million, respectively, although
investors poured $467 million into financials in a third
successive week of net buying.
Investors also pulled out $1.62 billion from U.S. bond funds
in a second straight week of net selling.
U.S. general domestic taxable fixed income funds, inflation
protected funds and loan participation funds had $2.18 billion,
$892 million and $797 million worth of net selling,
respectively.
Still, government bond finds secured $2.22 billion worth of
inflows compared with net selling of $2.14 billion in the
previous week.
<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Fund flows: U.S. domiciled equities, bonds and money market
funds Fund flows: U.S. equity sector funds Fund flows: U.S. bond funds ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
(Reporting by Gaurav Dogra and Patturaja Murugaboopathy in
Bengaluru; editing by Jonathan Oatis)
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