Global equity funds drew massive inflows for a second week in the seven days to Dec. 29 as investors welcomed signs that the economic impact from the spread of the Omicron COVID-19 variant would not be as significant as feared. The funds pulled in $30.08 billion in net buying, compared with purchases of $35.83 billion in the previous week, which was their largest weekly inflow in nine months. The MSCI’s global equity index gained 4.3 percent in a seven-day rally up to Dec. 29 as investors cheered signs that Omicron is less likely to lead to hospitalization. Sentiments were also boosted by signs that governments are trying to limit economic damage by relaxing rules on isolation and delaying COVID-19 curbs, rather than resorting to lockdowns. U.S. equity funds secured $19.43 billion in net buying, while European and Asian funds attracted $5.62 billion and $1.44 billion respectively. Among equity sector funds, …
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