Magnificent Seven 'dominance' doubles inflows into US equity funds in Q1

Up from £625m in Q4 2023

clock • 2 min read

Inflows into US equities rose to £1.5bn in Q1 2024, almost double from the previous quarter, due to the "dominance" of Magnificent Seven stocks, according to the Investment Association.

The IA found UK investors returned to the fund markets in March adding £446m, the first inflows since April 2023. The change in sentiment followed heavy capital outflows recorded in January and February of £1.1bn and £2.7bn, respectively.  JPMorgan CEO Jamie Dimon 'cautious' on US soft landing The best-selling IA sector in March was the Global sector, with inflows reaching £842m, while North America gathered £469m. The IA said due to the aforementioned supremacy of the Magnificent Seven stocks, advisers and wealth managers were opting for US companies if they re-allocate into equit...

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