Please use symbol entry at top right of page to search

GRAPHIC-U.S. equity funds regain weekly inflows after two weeks

June 24 (Reuters) - U.S. investors turned net buyers of equity funds in the week ended June 22, due to an increased interest in mega-cap growth firms after a selloff in the previous weeks due to fears of a recession.

According to Refinitiv Lipper data, investors purchased U.S. equity funds worth $11.38 billion after sales of $21.56 billion in the previous week. The weekly net buying during the reported week was the biggest since March 23.

The S&P 500 and the Nasdaq Composite, have both gained more than 3% this week, as investors were lured in by cheaper valuations, as the indexes down more than 20% this year.

U.S. large-cap funds recorded inflows of $15.19 billion, their biggest since at least July 2020. However, mid- and small-cap funds had outflows of $874 billion and $733 billion, respectively.

U.S. growth and value funds obtained inflows, amounting to $4.03 billion and $1.62 billion, respectively.

By sector, financials, metal and mining as well as industrials witnessed outflows of $776 million, $685 million and $584 million, respectively, while consumer staples obtained inflows of $500 million.

Meanwhile, U.S. bond funds booked a third weekly net selling, worth $12.38 billion, which was a 34% drop in outflows from a week ago.

Investors sold U.S. taxable bond funds and municipal bond funds of $11.37 billion and $1.84 billion, respectively.

U.S. general domestic taxable fixed income funds and high yield funds posted outflows worth $3.99 billion and $2.9 billion, respectively, but short/intermediate government and treasury funds obtained a second weekly inflow valued at $1.95 billion.

Meanwhile, investors withdrew $2.77 billion out of money market funds, compared with the $8.59 billion worth of net selling in the previous week.

(Reporting by Gaurav Dogra and Patturaja Murugaboopathy in Bengaluru; Editing by Amy Caren Daniel)

Copyright © Reuters 2008. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.

News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.