US equity funds see biggest outflow in six weeks: Lipper

US equity funds recorded a large net outflow in the week to July 21, as rising COVID-19 infections caused by the Delta variant of the coronavirus revived fears of renewed shutdowns and an economic slowdown.

According to Refinitiv Lipper data, investors sold a net $10.4 billion in US equity funds in the week, the most in six weeks.

The United States is seeing large COVID-19 outbreaks in parts of the country with low vaccination rates, leading to a surge in hospitalizations and deaths in recent weeks.


Financial sector funds saw net selling of $2.4 billion, while other cyclical sectors such as industrials and mining funds also posted outflows.

Tech sector funds drew in $1.6 billion, the biggest weekly net inflow in five months.

Investors bought US government and municipal funds worth a net $3.1 billion in the week.

On the other hand, U.S high-yield bond funds saw outflows of $1 billion.

US money market funds received a net $4.64 billion, after six straight weeks of inflows.