Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Global equity funds face biggest outflow in six weeks -Lipper

06/11/2021 | 07:13am EDT
FILE PHOTO: Dividers are seen inside a trading post on the trading floor as preparations are made for the return to trading at the NYSE in New York

June 11 (Reuters) - Global equity funds faced big outflows in the week to June 9, as investors were wary ahead of U.S. inflation data, spooked by worries that an upside surprise could prompt the Federal Reserve to start tapering its massive stimulus.

According to Refinitiv Lipper data, global equity funds faced net outflows of $12.8 billion, the biggest since the week ended April 28.

However, the outflows were mainly focussed on U.S. equity funds, which witnessed net sales of $17.5 billion, while Europe and Asian equity funds obtained inflows of $4.2 billion and $1.9 billion respectively.

Data released on Thursday showed U.S. consumer prices rose solidly in May, leading to the biggest annual increase in 13 years.

However, the jump was seen as not enough to change the Federal Reserve's view that rising consumer prices will be transitory or alter its easy monetary policy.

Investors sold $575 million in consumer discretionary sector funds and $288 million in utilities sector funds. Tech sector funds faced their first outflow in three weeks, the data showed.

However, financial sector funds had net purchases worth $1.5 billion, which was its second straight week of inflows.

In Asia, South Korean equity funds faced $2.2 billion worth of outflows on concerns that its central bank might tighten its monetary policy earlier than expected.

Meanwhile, global bond funds attracted $12.2 billion worth of net buying, despite worries over higher inflation levels.

Global money market funds also witnessed purchases worth a net $8.1 billion, recording inflows for the fifth straight week.

Among commodities, investors purchased $281 million worth of precious metal fund, which was a fifth straight week of inflows, while energy funds had outflows worth $250 million.

An analysis of 23,721 emerging-market funds showed equity funds had outflows worth $207 million, while bond funds attracted $1.2 billion, marking a second straight week of inflows.

(Reporting by Gaurav Dogra and Patturaja Murugaboopathy in Bengaluru; Editing by Shailesh Kuber)


ę Reuters 2021
Latest news "Economy & Forex"
04:26aIran's foreign minister says Raisi is new elected president
RE
04:23aPREMIER OF GOVERNMENT OF PEOPLE REPUBLICá : 2021/06/19Farmers' interests to be safeguarded
PU
04:16aAlert declaring Raisi winner of Iran election, citing ministry, is withdrawn
RE
04:15aAlert declaring Raisi winner of Iran election, citing ministry, is withdrawn
RE
04:01aEUROPEAN EXTERNAL ACTION SERVICEá : High Representative/Vice-President Josep Borrell concludes participation in the SEECP Summit and the Antalya Diplomatic Forum in Turkey
PU
03:49aGOVERNMENT OF RUSSIAN FEDERATIONá : Russia resumes flights with Belgium, Bulgaria, Jordan, Ireland, Italy, Cyprus, North Macedonia, the United States and Turkey
PU
03:19aWORLD BANKá : Nepal Receives 982 Oxygen Concentrators towards a Stronger Response to Pandemic
PU
02:53aEESC EUROPEAN ECONOMIC AND SOCIAL COMMITTEEá : Last call to submit your project for the EESC's 2021 Civil Society Prize on climate action
PU
02:40aHardline judge has big lead in Iran presidential vote, says state TV
RE
02:13aChina's cryptocurrency-mining crackdown spreads to Sichuan
RE
Latest news "Economy & Forex"