(Reuters) - Global money market funds attracted sharp inflows in the week to Nov. 6 as investors sought safety ahead of the U.S. presidential election and the Federal Reserve's policy meeting.

Investors racked up a massive $127.44 billion worth of global money market funds during the week, which was their largest weekly net purchase since Jan. 3, according to LSEG data.

Donald Trump was elected U.S. president this week. Betting markets had favoured him and polls had suggested a close contest.

On Thursday, the U.S. Federal Reserve cut interest rates by a quarter percentage point, with policymakers assessing potential complexities in the economic landscape as President-elect Trump prepares to take office next year.

The U.S. money market funds secured a significant $78.68 billion, the biggest amount in six weeks. European and Asian funds were also popular as investors pumped $42.87 billion and $4.76 billion, respectively, into these funds.

At the same time, investors acquired global equity funds worth $10.76 billion following net withdrawals of $2.95 billion a week earlier.

They snapped up a net $1.02 billion worth of industrial sector funds, the highest weekly net purchase since July 17. The financials and consumer staples sectors, meanwhile, witnessed $420 million and $354 million worth of outflows, respectively.

Global bond funds attracted investments for a 46th consecutive week, to the tune of $11.45 billion.

"We continue to expect another 25 bps of Fed rate cut in December and a further 100 bps of easing in 2025. We recommend investors shift excess cash into quality fixed income, especially as the recent increase in yields offers an opportunity to lock in attractive levels," said Mark Haefele, chief investment officer at UBS Global Wealth Management.

Global short-term bond funds saw $3.23 billion worth of net purchases, the largest for a week since Sept. 25. Meanwhile, dollar denominated medium-term, corporate and government bond funds experienced $1.42 billion, $824 million and $606 million worth of inflows, respectively.

Among commodities, investors sold gold and other precious metal funds worth a net $649 million, halting a 12-week buying trend. The energy sector also saw $245 million worth of outflows.

Data covering 29,675 emerging market funds showed that bond funds had $1.55 billion in outflows, the third weekly net selling in a row. Equity funds were also out of favour with a net $518 million in sales.