(Reuters] – European equity funds saw heavy inflows during the week to April 6. The Russia-Ukraine conflict fueled investor demand for energy stocks and defense stocks. However, other regions experienced outflows from concerns over rising inflation.

The net amount received by European equity funds was $4.84 Billion, while outflows to U.S. equity funds and Asian equity funds were $0.93 billion and $0.15 Billion, according to Refinitiv Lipper data.

Investors have been pouring their money into European stocks since March and are now poised to reap the benefits of one the most significant policy changes in decades.

Global sector funds saw tech funds draw $301 million for the third consecutive week. Financials, consumer discretionary, and real estate fund outflows totaled $3.3 billion, $708 millions, and $673million, respectively.

Following receiving $4.3 Billion the previous week, outflows from global bond funds totalled $2.08B.

The short- and long-term bond funds were hit with a 13th week straight of outflows. This was worth $3.59Billion. Meanwhile, government bonds lost $393M in net selling, after only two weeks. This week marked the sixth straight week inflows to inflation-protected fund with $382million. The net buying of high yield funds, which received $2.04 billion for their second week in a row, was another sign.

The global money market fund inflows were $4.63 billion, which was 72% more than the week prior.

Precious metals funds were the top commodity fund buyers, receiving $318 million for their 12th consecutive week of net purchases. However, the energy funds suffered a 2nd consecutive week of losses. Data revealed that the emerging market equity funds raked in $4.93 Billion while EM bond funds drew 2 billion. Each saw a 50% rise over the week prior.