European funds draw a record $35.13 billion in a week
European funds drew $35.13 billion in the week to November 11, their largest weekly inflow since June 2021, lifting global equity fund inflows to a seven-week high.
Europe takes the money
European funds led inflows into global equity funds in the week to November 11, supported by strong earnings and lower crude oil prices, despite a recent selloff in U.S. technology stocks. Net inflows of $35.13 billion into European funds, the largest weekly total since June 2021, helped lift total net inflows into global equity funds to $50.99 billion, their highest since September 23, according to LSEG Lipper data covering 29,202 funds.
U.S. and Asian equity funds attracted net purchases of $6.6 billion and $6.15 billion, respectively, during the week. The pan-European STOXX 600 reached a record high of 666.58 on Thursday, buoyed by strong earnings from Italian lender UniCredit, robust 2027 profit margin forecasts from AI equipment maker Siemens Energy, and an encouraging earnings outlook from U.S.-based neocloud company CoreWeave.
Where the money went, sector by sector
Among sector funds, technology, healthcare and financials attracted net inflows of $2.62 billion, $833 million and $820 million, respectively, while industrials recorded weekly net outflows of $1.07 billion. In emerging markets, equity funds attracted a net $4.65 billion, their largest weekly inflow in three weeks, while investors withdrew a net $657.44 million from bond funds, marking a third consecutive week of outflows.
In commodities, gold and other precious metals funds remained popular for a second straight week, attracting net inflows of $614 million. Investors also bought $215.43 million in energy funds, extending the recent streak of net purchases to four consecutive weeks.
Bonds and cash went the other way
Global bond funds recorded net weekly outflows of $507.89 million, ending a seven-week run of inflows. Government bond funds saw net outflows of $488.8 million, following net inflows of $5.17 billion in the previous week. Investors also withdrew a net $1.72 billion from dollar-denominated global bond funds, while purchasing a net $2.07 billion in corporate bond funds.
Investors also withdrew a net $37.48 billion from money market funds after making net purchases of $174.22 billion in the previous week. The weekly rush extends a strong quarter for European funds: open-end funds and ETFs gathered EUR 204.3 billion in the third quarter, a five-year high, Morningstar reported, with year-to-date flows of EUR 603.7 billion.
- $35.13 billionNet inflows into European funds
- $50.99 billionNet inflows into global equity funds
- $6.6 billionNet purchases by U.S. equity funds
- $6.15 billionNet purchases by Asian equity funds
- 666.58Record high for the pan-European STOXX 600
