UPDATE 1-U.S.-based stock funds post $5.2 bln inflow in latest week-ICI
By Sam Forgione NEW YORK, Sept 18 (Reuters) - Investors in mutual funds based in the United States gave $5.24 billion to stock funds in the latest week on strong global economic data and reduced fears of a U.S. strike on Syria, data from the Investment Company Institute showed on Wednesday. The inflows into stock funds in the week ended Sept. 11 were the biggest since the week ended July 10, according to data from ICI, a U.S. mutual fund trade organization. They were also up sharply from inflows of $903 million the prior week. Data showing growth in the U.S. services sector and positive Chinese economic data helped lift global stocks over the reporting period, while the likelihood of a U.S. military strike on Syria fell. The Standard & Poor's 500 stock index rose 2.2 percent over the period. Funds that hold U.S. stocks attracted $2.5 billion in new cash in the latest week, marking the biggest inflows into the funds since late July. Funds that hold non-U.S. stocks, meanwhile, had inflows of $2.8 billion, the biggest since early August. Bond funds, meanwhile, had outflows of $5.5 billion over the latest weekly period, marking the seventh straight week of outflows from the funds. The outflows slowed modestly from the previous week. Hybrid funds, which can invest in stocks and fixed income securities, attracted $1.3 billion in new cash, the biggest inflows into the funds in four weeks. The latest week's inflows were also up from the prior week's small inflows of $349 million, which showed the weakest demand for the funds since late June. The following table shows estimated ICI flows for the past five weeks (all figures in millions of dollars): 8/14/13 8/21/13 8/28/2013 9/4/2013 9/11/2013 Total Equity 1,518 1,343 -203 903 5,236 Domestic -759 -376 -1,338 -698 2,470 World 2,278 1,719 1,136 1,601 2,766 Hybrid* 1,588 1,082 1,135 349 1,282 Total Bond -3,881 -11,123 -9,303 -6,758 -5,514 Taxable -1,793 -7,355 -6,390 -4,711 -2,808 Municipal -2,088 -3,769 -2,913 -2,048 -2,706 Total -775 -8,698 -8,370 -5,506 1,004 * Hybrid funds can invest in stocks and/or fixed-income securities.
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