International stock funds maintained their momentum with a seventh consecutive week of new investments, as positive corporate earnings reports and diplomatic developments continued to fuel investor confidence through May 6.
Investment firms recorded $4.35 billion in net new money flowing into worldwide equity funds during the week, according to LSEG Lipper tracking data. However, this represented the smallest weekly gain since mid-March.
The MSCI World Index reached an all-time peak of 1,108.94 on Thursday, driven by a surge in technology shares and impressive financial results from semiconductor company Advanced Micro Devices.
Financial analysis of 1,060 companies within the MSCI World Index revealed first-quarter profits jumped 22% compared to the same period last year, surpassing expert predictions by approximately 6.3%.
Asian stock funds dominated regional investment flows, capturing $3.35 billion in new money, while European funds secured $1.56 billion. American funds bucked the trend, experiencing $2.26 billion in withdrawals.
Within specific industry categories, technology funds attracted $2.83 billion in new investments, while healthcare funds lost $2.05 billion as investors pulled money out.
International bond funds experienced their strongest week since mid-February, gaining $17.04 billion in fresh investments.
Medium-term bonds denominated in U.S. dollars performed exceptionally well, drawing $4.58 billion in their best showing since early February. Euro-based bond funds and short-term bond investments attracted $1.6 billion and $1.5 billion respectively.
Money market funds saw their highest demand since early January, with investors adding $148.18 billion in new funds.
Gold and precious metals investments faced continued pressure, losing $1.08 billion for the second straight week.
Emerging market activity showed mixed results, with bond funds losing $63 million after four weeks of gains, while stock funds saw $1.46 billion in withdrawals across 28,871 tracked funds.
