U.S.-based stock funds attract $3.1 bln over week
NEW YORK, July 3
NEW YORK, July 3 (Reuters) - Investors in U.S.-based funds committed $3.1 billion to stock funds in the week ended July 2 after adding $1.5 billion to the funds the prior week, data from Thomson Reuters' Lipper service showed on Thursday.
The new cash came entirely from stock exchange-traded funds, which saw net inflows of $4.8 billion. In contrast, stock mutual funds posted net outflows of $1.7 billion, the first such outflows since December.
Stock mutual funds are commonly purchased by retail investors, while stock ETFs are thought to represent the institutional investor.
Taxable bond funds attracted net inflows of $1 billion, the second straight week of inflows. Money market funds posted net inflows of $5.4 billion, also their second straight week of inflows. (Reporting by Luciana Lopez; Editing by James Dalgleish)