U.S. equity funds draw weekly inflows as tech rally lifts sentiment

May 29 (Reuters) - U.S. ‌equity ​funds ​drew inflows in the week to May 27 as a rally ‌in AI-linked technology stocks lifted sentiment, though ⁠concerns surrounding the U.S.-Iran peace negotiations kept ‌purchases in check.

According to ‌LSEG Lipper data, investors bought a net $1.97 billion of U.S. equity funds, compared ​with a net $12 billion of selling in the previous week.

Nvidia highlighted robust ⁠demand for its flagship AI chips last week, fueling ​inflows into technology sector funds.

Investors bought a net $2.75 billion of technology sector ​funds in an eighth ‌successive week of buying. Financial and industrial sector funds also attracted ⁠inflows of $987 million and $880 million, respectively.

U.S. bond funds were popular for the sixth successive ⁠week, gaining a net $10.62 billion of weekly inflow ​during the week.

General domestic taxable fixed income funds, short-to-intermediate investment-grade funds, municipal debt funds, and short-to-intermediate ‌government and treasury funds had noticeable inflows at $2.74 billion, $2.38 billion, $2.33 billion ‌and $2.02 billion, respectively.

U.S. money market funds ⁠attracted inflows for ‌a second successive ​week, to the tune of $8.38 billion.

(Reporting by Gaurav DograEditing by Nick ‌Zieminski)

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