Global Equity Funds Record Eleventh Straight Week of Inflows
Global equity funds saw their eleventh consecutive week of inflows, as investors continued to bet on a strong earnings season. According to LSEG Lipper data, net purchases into global equity funds reached $21.15 billion for the week ended August 5.
The optimism stems from a 40.9% increase in combined profits for the latest quarter among MSCI World constituent companies that have reported so far, with about 75% beating analysts' forecasts. Strong results from Amazon, Caterpillar, and Palantir Technologies also contributed to the positive sentiment.
European equity funds attracted $12.52 billion, their largest weekly inflow since July 8, while Asian funds recorded $8.15 billion in inflows. U.S. funds, however, saw about $1.58 billion in outflows.