May 29 (Reuters) – U.S. equity funds drew inflows in the week to May 27 as a rally in AI-linked technology stocks lifted sentiment, though concerns surrounding the U.S.-Iran peace negotiations kept purchases in check.
According to LSEG Lipper data, investors bought a net $1.97 billion of U.S. equity funds, compared with a net $12 billion of selling in the previous week.
Nvidia highlighted robust demand for its flagship AI chips last week, fueling inflows into technology sector funds.
Investors bought a net $2.75 billion of technology sector funds in an eighth successive week of buying. Financial and industrial sector funds also attracted inflows of $987 million and $880 million, respectively.
U.S. bond funds were popular for the sixth successive week, gaining a net $10.62 billion of weekly inflow during the week.
General domestic taxable fixed income funds, short-to-intermediate investment-grade funds, municipal debt funds, and short-to-intermediate government and treasury funds had noticeable inflows at $2.74 billion, $2.38 billion, $2.33 billion and $2.02 billion, respectively.
U.S. money market funds attracted inflows for a second successive week, to the tune of $8.38 billion.
(Reporting by Gaurav DograEditing by Nick Zieminski)
