Global equity funds snapped a 13-week streak of inflows in the week ended August 26, as investors turned cautious ahead of an earnings report from AI heavyweight Nvidia and potentially pivotal remarks from Federal Reserve Chair Kevin Warsh.
Investors withdrew $5.87 billion from global equity funds during the week — the first weekly outflow since May 20 — and U.S. equity funds recorded sizable net sales of $22.33 billion, according to LSEG Lipper data.
Nvidia (NVDA.O) on Wednesday forecast a 70% jump in revenue for the next fiscal year, easing concerns about AI demand even as supply constraints remain.
Attention is turning to Warsh's remarks at the Jackson Hole Symposium on Friday, after three Fed officials warned about persistently high inflation.
Investors, however, bought European equity funds of $7.92 billion and Asian equity funds of $4.8 billion during the week.
Among sectoral funds, technology attracted net inflows of $3.2 billion, while metals and mining funds drew $489 million. Financial-sector funds, however, recorded net outflows of $948 million.
Inflows into global bond funds eased to a four-week low of $10.25 billion during the week.
Short-term bond funds remained popular, attracting a seven-week high of $6.29 billion in net inflows.
Euro-denominated bond funds also attracted inflows of $1.09 billion, while investors withdrew $1.77 billion from high-yield bond funds — their first weekly outflow since July 29.
Money market funds recorded net outflows of $19.74 billion, ending a four-week streak of inflows.
Among commodity funds, net inflows into gold and other precious-metals funds surged to a six-month high of $4.21 billion during the week. Energy funds, meanwhile, posted a second consecutive weekly outflow of $313 million.
In emerging markets, investors bought a net $709 million in equity funds, marking a seventh consecutive week of inflows. Bond funds also attracted net weekly inflows of $956 million, according to data covering 28,976 funds.
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