funds witnessed higher inflows in the seven days to Jan. 27, as investors remained hopeful of an economic recovery despite worries about a potential delay in stimulus and short-term hurdles in vaccine distribution.
Investors purchased $19.3 billion in equities
funds during the period, compared with $14.9 billion in the previous week, Lipper data showed.
Funds focused on information technology sector attracted $4.3 billion in inflows, the biggest in six weeks, an analysis of 12,739
funds based on Lipper’s sector classification showed.
“While recent COVID-19 news and snail-paced vaccine rollouts are frightfully discouraging, the big picture does not change in terms of markets outlook,” said Stephen Innes, chief
global markets strategist at Axi.
Investors purchased $15.3 billion in bond
funds, while money market
funds also attracted $12.4 billion, the biggest in four weeks, as per the data.