Global equity funds saw massive outflows in the week to March 2 as investors sought safer havens for their assets, following Russia's invasion of Ukraine.
Investors offloaded global equity funds worth a net $13.09 billion, in their largest weekly net selling since December 15, Refinitiv Lipper data showed.
Meanwhile, the rush for safety led inflows of $15.9bn into money market funds, their biggest net purchases in eight weeks.
European equity funds were under intense selling pressure, facing outflows of $15.06bn. Investors also sold $1.7bn worth of US equity funds, but purchased Asian funds worth $2.78bn.
Financials lost $3.76bn in net selling, the biggest weekly outflows since at least April 2020. Investors also sold $623 million and $543m of consumer discretionary and tech funds respectively, but purchased energy sector funds of $867m.
Investors jettisoned global bond funds of $11.66bn in an eighth straight week of net selling.
Short- and medium-term global bond funds witnessed net selling worth $5.8bn, a 88 per cent higher outflow compared with previous week, while high-yield bond funds accounted a $2.31bn worth of outflow, in an eighth consecutive week of net selling.
Meanwhile, government bond funds lured purchases of $4.23bn, marking the biggest weekly inflow since Dec. 8, while inflation-protected funds attracted $610m.
Among commodity funds, demand for precious metal funds surged to a five-week high as they obtained inflows of $1.46bn. However, energy funds booked marginal outflows worth $25m, after a third week of purchases.
An analysis of 24,438 emerging market funds showed investors sold bond funds of $3.98bn, their biggest outflow since at least April 2020, while equity funds saw net selling of $731m.
