The week ending Nov. 8 saw EPFR-tracked Technology Sector Funds set a new weekly inflow record as investors responded to a good 3Q17 earnings season for the sector and recent mergers and acquisitions activity. But flows to other major Sector Fund groups were muted by the uncertainty surrounding U.S. tax reform proposals.
Flows into Technology Sector Funds were broadly distributed. Of the 10 funds that attracted the biggest inflows, eight had general mandates while the others were dedicated to semiconductor and robotics. While US Technology Sector Funds have seen the biggest inflows in cash terms, funds dedicated to China continue to lead the way in flows as a percentage of AUM terms after Chinese leaders spelled out their ambitions for this sector during the recent 19th Communist Party Congress.