Global money market funds draw large inflows on election-driven caution

Oct 25 - Global investors channelised large investments into the safety of money market funds in the week through Oct. 23 on caution over the upcoming elections in the United States and Japan, and the shift in the outlook for U.S. interest rates.

Uncertainties around a U.S. presidential election on Nov. 5, with polls suggesting a neck-and-neck race in crucial swing states, and potential risks of Japan's ruling Liberal Democratic Party losing its majority in a parliamentary election on Sunday, boosted demand for low-risk assets. China equity funds were meanwhile, popular for a fourth consecutive week as they garnered about $1.23 billion worth of inflows.

Global short-term and high-yield funds, and dollar-denominated medium-term bond funds attracted a notable $ 1.6 billion, $1.14 billion and $1.24 billion worth of inflows, respectively.

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