Global equity funds experienced a surge in inflows, reaching $22.37 billion in the week ended November 5, driven by optimism about AI-linked corporate deals. The MSCI World Index pulled back 1.6% from its record high. UBS’ Chief Investment Officer believes the rally’s fundamentals remain strong, particularly in transformative trends like AI.

In the US, equity funds received the largest weekly inflow since October 1 at $12.6 billion, with Asian and European funds also seeing significant investments. The technology sector saw a big influx of $4.29 billion. Investors continued to pour money into bond funds, adding $10.37 billion in the 29th straight week.

Corporate and short-term bond funds received inflows of $3.48 billion and $2.36 billion, respectively. Money market funds attracted a high of $146.95 billion in inflows. However, gold and precious metals funds saw net sales of $554 million for the second week in a row. Emerging market equity funds received $1.61 billion in inflows, while bond funds faced an outflow of $1.73 billion.

Read more at Yahoo Finance: Global equity fund inflows jump to a five-week high