June 21 - Global equity funds faced outflows for the second straight week in the week ending June 19, with investors cashing in on a share rally amid concerns that the Fed might cut rates only once this year and ongoing political risks in Europe.
Last week, the U.S. Federal Reserve kept interest rates steady but scaled back its projected rate cuts for the year from three to one, adopting a more hawkish stance than anticipated. U.S. equity funds suffered a net $8.37 billion worth of outflows during the week after about $21.54 billion worth of net selling in the previous week.Sectoral equity funds saw about $181 million worth of net selling with about $290 million and $195 million worth of outflows from financials and consumer discretionary sectors.
Global investors, meanwhile, acquired about $4.82 billion worth of global bond funds, extending net purchases into a 26th successive week.
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