Global equity funds draw $28.16 billion in fifth straight week of inflows

Global equity funds attracted $28.16 billion in net inflows in the week through October 21, a fifth consecutive week of purchases and up from $19.88 billion the prior week, LSEG Lipper data showed. Easing Treasury yields and strong early corporate earnings lifted sentiment. The benchmark 10-year US Treasury yield fell about 15 basis points last week and dropped below the 5% level this week. Of the nearly 18% of MSCI All Country World Index constituents that have reported earnings to date, about 73% have beaten the average analyst estimate, according to LSEG data. By region, Asian equity funds drew $11.53 billion, their largest weekly inflow since at least December 2022. European equity funds added $9.14 billion and US equity funds $5.07 billion. Technology sector funds attracted $5.05 billion, reversing $4.77 billion in prior-week net sales; healthcare took in $1.83 billion while consumer discretionary shed $1.29 billion. Global bond funds drew $9.44 billion, their fifth straight weekly inflow, and money market funds $15.86 billion. Gold and precious metals funds added $1.29 billion. Emerging market equity funds drew $6.28 billion, the largest weekly net purchase since August 5. The MSCI World Index fell 1.31% on Thursday after Meta reported strong results but unveiled plans to issue non-voting stock.