U.S. Equity Funds Attract Biggest Inflows in 5 Weeks, Led by Growth - Report
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U.S. equity funds attracted $8.03 billion inflows in a week to July 28, according to the data from Refnitiv Lipper.
Fueled by earnings optimism and the economy reopening, money managers increased their bets on the U.S. equities to send three benchmark index trading at record highs. Growth funds led the investing spree as they attracted $2.7 billion - the biggest weekly inflow in four months.
On the other hand, Value funds registered paltry outflows. Similarly, U.S. equity mutual funds witnessed outflows of $943 million. Overall, inflows were mostly focused on ETFs, whose holdings jumped by $10.9 billion.
Broken by sectors, tech ($931 million), consumer staples ($693 million), and industrial products ($409 million) led inflows.
Elsewhere, bond funds received $3.3 billion - the biggest inflow in three weeks, while inflation-protected funds and money market funds attracted $2.2 billion and $17.9 billion (the biggest in nine weeks), respectively.
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