According to Refinitiv Lipper data, investors have withdrawn $8.6 billion and $840 million from US and European equity funds, respectively, but invested $470 million in Asian equity funds.
Among equity sector funds, financial, technology and real estate funds saw outflows of $751 million, $429 million and $390 million, respectively, although consumer staples funds received $600 million between them.
Meanwhile, global bond funds recorded outflows for the third consecutive week, amounting to $2.52 billion.
Global short- and medium-term bond funds saw outflows of $4.84 billion, the largest weekly outflow in five weeks, but high-yield bond funds attracted inflows for the second consecutive week, worth $2.35 billion.
Meanwhile, global government bond funds received $809 million in inflows for the third straight week of net buying.
Global money market funds saw much larger inflows as investors prepared to release the Federal Reserve’s minutes.
The data shows that investors raised $26.4 billion in global money market funds, compared to an outflow of $9.4 billion in the previous week.
Energy funds remained in demand for the fifth consecutive week as they received a net investment of $149 million. Investors also bought $18 million worth of precious metals funds after five straight weeks of net selling.
According to available data on 24,768 emerging market (EM) funds, emerging market equity funds received $1.11 billion, but emerging market bond funds saw outflows of $201 million after $233 million in net purchases in the previous week.