Investors pumped a massive US$61.32 billion into global money market funds during the week, following a net US$39.55 billion worth of purchases in the prior week, data from LSEG Lipper showed.

At the same time, demand for global equity funds dipped to a four-week low as these funds garnered just US$2.97 billion worth of inflows during the week.

Specifically, US equity funds lost their sheen, witnessing about US$9.54 billion in net outflows during the week.

On the other hand, European and Asian funds saw robust inflows worth US$5.87 billion and US$5.83 billion, respectively, in the same period.

The technology sector experienced a massive US$2.91 billion worth of outflows, the largest weekly net sales since December 2021.

Industrials and consumer discretionary sectors also witnessed notable outflows worth US$397 million and US$367 million, respectively.

Global bond funds were in demand for the tenth week in a row, grossing a net US$17.02 billion in weekly inflows during the week.

Global short-term bonds drew a net US$6.4 billion, the biggest amount for a week since Jan 8.

High yield bond funds also drew a significant US$3.17 billion in a seventh consecutive week of net purchases.

In the commodities segment, gold and precious metals funds received US$1.22 billion, marking the fourth consecutive weekly inflow.

Energy funds, meanwhile, faced a net US$114 million worth of sales.

Emerging market data for 29,575 funds revealed, equity funds attracted US$1.52 billion, the third successive weekly inflow.

Investors also added a net US$1.63 billion worth of bond funds, extending net purchases into a ninth consecutive week.