Global equity fund inflows surge to 17-month high on AI optimism

April 24 (Reuters) - Weekly inflows ‌into global ​equity funds ​surged to a more than 17-month high in the week through April 22, fuelled by optimism over demand ‌for artificial intelligence and robust first-quarter earnings from some ⁠major U.S. banks.

According to LSEG Lipper data, global equity funds attracted net weekly ‌investments of $48.72 billion, the largest ‌sum for a week since November 13, 2024.

Shares of TSMC, the world's biggest contract manufacturer of advanced AI chips, and high-bandwidth ​memory (HBM) chip supplier SK Hynix hit record highs this week, bolstered by upbeat earnings.

U.S. equity funds drew $27.98 billion, the most ⁠in four weeks, while European and Asian funds saw net inflows of $18.41 billion and $157 million, ​respectively.

Sector funds attracted a net $8.22 billion, marking their largest weekly inflows in three months, led by technology, ​industrials, and metals and mining, which drew $6.21 ‌billion, $1.82 billion, and $1.02 billion, respectively.

Bond fund inflows rose by nearly a third to $12.85 billion, from $9.78 billion, a ⁠week ago.

Investors pumped a net $3.13 billion into hard currency bond funds in their largest weekly net purchase since March 18. Meanwhile, outflows from short-term ⁠bond funds eased to $2.21 billion from $7.08 billion the week before.

Money market funds saw ​a second successive weekly outflow to the tune of $20.26 billion after the prior week's $173.09 billion weekly net sales.

Investors extended their recent streak of net purchases ‌in gold and other precious metals funds into a fourth successive week, investing a net $841 million in ‌these funds.

Emerging market funds were in demand for a third straight ⁠week as investors added $4.34 billion ‌into equity funds ​and $3.64 billion into bond funds, data for a combined 28,853 funds showed.

(Reporting by Gaurav Dogra; Editing by Varun ‌H K)

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