US equity funds saw robust inflows in the week through October 22 bolstered by optimism over a broadly upbeat quarterly earnings season so far.
Easing US-China trade tensions, with trade talks between US President Donald Trump and Chinese President Xi Jinping planned for the next week, also supported sentiments.
Investors bought a net US$9.65 billion worth of US equity funds during the week, after two weeks of net outflows, data from LSEG Lipper showed.
A generally upbeat earnings season so far with strong results from General Motors, Coca-Cola and 3M, in the most recent week, renewed investor appetite for equity funds.
Weekly net investments in technology sector funds jumped to a three-week high of US$1.38 billion. Industrial and consumer staples sectors also received a notable of US$805 million and US$586 million, respectively.
US bond funds attracted US$8.4 billion, with investors logging a third weekly net purchase.
Short-to-intermediate investment-grade funds stood out as these funds received US$3.63 billion, the largest weekly inflow since July 2.
Municipal debt funds and general domestic taxable fixed income funds also witnessed US$1.12 billion and US$556 million worth of inflows, respectively.
Investors, meanwhile, pumped US$22.81 billion into US money market funds as they registered a fourth weekly net purchase in five weeks.
Reuters
