Oct 29 (Reuters) - U.S. equity funds attracted large inflows in the week to Oct. 27 helped by upbeat corporate earnings by top U.S. firms, which prompted investors to take some risks shrugging off concerns over higher inflation levels. According to Lipper data, U.S. equities funds attracted investments worth a net $12.99 billion, which were the largest since the week to Aug. 18. Major U.S. stock indexes rallied to a fresh peak this week, helped by robust third-quarter earnings posted by tech giants Microsoft Corp, Google-owner Alphabet Inc, and, industrial conglomerate General Electric Co, Refinitiv data showed that out of the 266 S&P 500 companies that have reported earnings so far, 82% beat the consensus net income estimates. Data showed large-cap equity funds lured net inflows of $11.87 billion, while small-cap funds received a net $287 million. However, mid-cap funds faced outflows of $409 million. U.S. equity growth funds saw net buying of $191 million after witnessing outflows for four straight weeks, while value funds faced net selling worth $1.83 billion. Among sector funds, consumer discretionary, health care and technology funds gained inflows of $824 million, $573 million, and $232 million respectively, while real estate funds saw a fifth week of outflows, with net selling of $201 million. Meanwhile, inflows into U.S. bond funds dropped by over 55% to $2.9 billion. U.S. taxable bond funds received a net $3.27 billion compared with $6.34 billion in the previous week, while U.S. municipal bond funds received a net $225 million. U.S. short/intermediate investment-grade funds faced outflows of $2.05 billion, compared with inflows worth $1.72 billion in the previous week. However, inflows into inflation protected funds nearly doubled to $1.83 billion, the data showed. Meanwhile, U.S. money market funds received a net $4.24 billion, after three straight week of outflows. Reporting by Gaurav Dogra and Patturaja Murugaboopathy in Bengaluru; Editing by Shailesh Kuber