U.S. bond funds see least demand since July-ICI
By Sam Forgione NEW YORK, Nov 7 (Reuters) - Investors in U.S.-based mutual funds put the lowest amount of new cash into bond funds since July in the latest week, while becoming less averse to stock funds, data from the Investment Company Institute showed on Wednesday. Bond funds attracted estimated net inflows of $2.62 billion in the week ended October 31, the least new demand for the funds since early July, ICI, a U.S. mutual fund trade organization, said. Stock funds, meanwhile, had net outflows of $2.43 billion as investors continued to take less money out of the funds for the fourth straight week. In the previous week, investors took $2.47 billion out of stock funds. The benchmark S&P 500 index rose just 0.24 percent over the reporting period after mixed corporate earnings - including weak reports from Apple Inc and Amazon - and data showing investment by U.S. businesses stalled in September. Funds that hold municipal bonds, which have the advantage of not being taxed, had inflows of $385 million, the least since early April. Investors also cooled toward hybrid funds, which can invest in stocks and fixed income securities, and took $672 million out of the funds. That was the first outflow from the funds since early June. The following table shows a breakdown of ICI flows for the past five weeks (all figures in millions of dollars): 10/3/12 10/10/12 10/17/12 10/24/12 10/31/2012 Total Equity -11,227 -2,606 -2,493 -2,472 -2,433 Domestic -10,601 -2,311 -2,123 -1,852 -1,885 World -626 -296 -369 -620 -548 Hybrid* 2,291 274 837 1,323 -672 Total Bond 9,517 9,506 8,844 6,611 2,616 Taxable 8,192 8,161 7,575 5,660 2,231 Municipal 1,326 1,346 1,269 952 385 Total 581 7,173 7,188 5,462 -488 *Hybrid funds can invest in stocks and/or fixed income securities.
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