By Bansari Mayur Kamdar (Reuters) - Inflows into exchange-traded funds (ETFs) tracking artificial intelligence (AI) companies have ebbed after their ...
SaltWire's Atlantic regional weather forecast for October 2, 2023 | SaltWire - Inflows into exchange-traded funds tracking artificial intelligence companies have ebbed after their sharp run-up earlier this year, as investors fear persistently high U.S. interest rates will hurt company valuations.
By contrast, both funds received their highest monthly net inflows of 2023 in June, gaining $265.5 million and $29.74 million, respectively, according to Lipper data. But AI stocks have suffered along with broader markets in recent weeks, as Treasury yields hovering around 16-year highs dull investors' risk appetite.
Retail investor flows into the sector have also cooled as the initial fervor surrounding AI wanes. September saw the lowest net monthly retail flows of $1.96 billion into AI-linked stocks since April, according to Vanda Research.
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