Investors pull least from U.S. stock funds in 19 weeks-ICI

By Sam Forgione
NEW YORK, Dec 5 (Reuters) - Investors in U.S.-based mutual
funds showed less aversion to stock funds in the latest week
while investing roughly the same amount in bond funds as the
prior week, data from the Investment Company Institute showed on
Wednesday.
Stock funds had estimated net outflows of $496 million in
the week ended Nov. 28, the least in 19 weeks a nd far less than
outflows of $8.81 billion the previous week, sa id ICI, a U.S.
mutual fund trade organization.
Bond funds, meanwhile, had net inflows of about $4.44
billion, which were roughly unchanged from the previous week.
The benchmark S&P 500 index rose 1.36 percent over
the reporting period despite uncertainty over whether U.S.
President Barack Obama and Congress would reach a deal on the
looming "fiscal cliff" of tax hikes and spending cuts. Obama
reassured markets toward the end of the period when he said he
hoped to close a deal in four weeks.
Hybrid funds, which can invest in stocks and fixed income
securities, had inflows of $143 million after suffering outflows
of $1.2 billion the previous week.

The following is a breakdown of ICI flows for the past five
weeks (all figures in millions of dollars):

10/31/12 11/7/12 11/14/12 11/20/12 11/28/2012
Total Equity -2,486 -1,837 -8,385 -8,813 -496
Domestic -1,937 -2,137 -6,631 -7,501 -481
World -549 301 -1,754 -1,313 -15
Hybrid* -673 553 -1,218 -1,197 143
Total Bond 2,588 7,470 6,615 4,443 4,438
Taxable 2,206 6,387 5,352 3,077 3,133
Municipal 381 1,084 1,263 1,366 1,305
Total -571 6,187 -2,988 -5,567 4,085
*Hybrid funds can invest in stocks and/or fixed income
securities.