News Digest: Equity funds witness largest inflow over 12 weeks
June 27, 2023
News Digest:
Global equity funds saw their largest inflows over the past 12 weeks amidst a surge in stock prices that were fuelled by subdued US inflation data and the possibility of a slowdown in the Fed’s interest rate hike plans for 2023, says a published report.
The Fed had left the interest rates unchanged earlier in June, but market analysts are worried since Chairman Jerome Powell’s statement that the United States could witness more rate hikes as inflation rates were still not below the non-negotiable 2% levels.
Takeaway:
Data released by Refinitiv Lipper for the first two weeks of June indicated that investors had added a net $16.18 billion to global equity funds, almost offsetting the $17.69 billion in net selling that was observed in the last weeks of March. Tech sector drew $1.7 billion making it the largest weekly inflow since March 2022.