US equity funds see largest weekly inflow in five weeks

Feb 20 (Reuters) - U.S. ‌equity funds ​saw ​a substantial inflow of capital in the week to February 18 on easing worries ‌over a selloff in the technology sector after ⁠a cooler consumer price inflation report boosted expectations of Federal ‌Reserve rate cuts.

According to ‌LSEG Lipper data, investors racked up a net $11.77 billion worth of U.S. equity funds, registering their largest ​net purchase for a week since January 14.

"We maintain an attractive view on the overall ⁠U.S. equity market, but investors should consider diversifying concentrated tech positions," said ​Mark Haefele, chief investment officer at UBS Global Wealth Management.

"Within technology, selectivity is key."

U.S. ​equity value funds remained in favour ‌for a second straight week, attracting net inflows of $2.65 billion in the latest ⁠week. Growth funds, meanwhile, saw net outflows of $2.28 billion.

U.S. sectoral funds attracted $1.82 billion, a second successive weekly net ⁠inflow, with industrials and tech witnessing net purchases of $1.3 billion and $1.19 ​billion, respectively.

Investors also poured $10.27 billion into U.S. bond funds in a seventh straight week of net purchases.

US short-to-intermediate investment-grade funds, ‌general domestic taxable fixed income funds and short-to-intermediate government and treasury funds attracted ‌a substantial net of $3.61 billion, $2.56 billion and $2.26 billion, respectively.

Money ⁠market funds, meanwhile, saw $12.79 ‌billion worth of ​net purchases, their third weekly inflow in four weeks.

(Reporting by Gaurav Dogra; Editing by Sahal ‌Muhammed)

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