U.S. equity funds secured their biggest inflow in nearly two months in the week to Aug. 18, boosted by optimism over corporate profits and a rebound in the U.S. economy.

Data from Lipper showed U.S. equity funds lured inflows of $13.28 billion in the week, compared with just $2.4 billion in the previous week.

U.S. value funds attracted $3.88 billion, the biggest in five months, while U.S. growth funds faced outflows worth $2.42 billion.

“Growth equity funds redemption heightened, resulting in a reversal to ‘value over growth’ for the first time since June,” said Jefferies in a report.

U.S. large-cap funds took the lion’s share of inflows, obtaining $7.74 billion, while mid-cap and small-cap funds witnessed outflows.

U.S. stock indexes touched a fresh peak earlier this week, driven by positive earnings. However, they dropped later deterred by weak retail sales data.

Meanwhile, U.S. bond funds saw inflows worth $6.07 billion, though it was 25% less than the previous week.

U.S. short and intermediate investment-grade funds pulled a net $3.3 billion, while U.S. municipal and government debt funds received $1.5 billion.

U.S. money market funds also received inflows worth $10.8 billion, marking a second consecutive inflow.
Source: Reuters (Reporting by Gaurav Dogra and Patturaja Murugaboopathy in Bengaluru; Editing by Steve Orlofsky)