U.S.-based equity funds see more outflows in latest week -ICI

Wed Jul 23, 2014 10:33am EDT

By David Gaffen
    July 23 (Reuters) - U.S. equity mutual funds suffered a 12th
consecutive week of outflows, the Investment Company Institute
said Wednesday.
    Overall stock funds saw outflows of $2.24 billion for the
week ended July 16, with outflows from U.S. funds of $3.95
billion - continuing a pullback in allocation to U.S. equities
that has persisted since April. 
    By contrast, funds that specialize in international equities
remain loved, with inflows of $1.71 billion, ICI said. The U.S.
mutual fund trade organization also showed inflows for equity
hybrid and bond funds. 
    The enthusiasm for world equity funds remains strong,
although world indexes have trailed the United States this year.
The MSCI All-World Stock Index is up 5.7 percent
this year, marking the third consecutive year of gains, but it
trails the S&P 500's 7.4 percent rise on the year thus
far.
    Total bond-fund inflows came to $2.47 billion, led by $1.97
billion in taxable bond flows, and municipal-bond funds reversed
a week of outflows with inflows of $497 million.    
    The following table shows estimated ICI flows for the past
five weeks (all figures in millions of dollars):    
    
                        7/16      7/9      7/2     6/25      6/18
 Total equity         -2,243      662   -7,835      -93      -922
    Domestic          -3,951   -1,072   -8,887   -1,354    -2,204
    World              1,708    1,733    1,052    1,262     1,282
 Hybrid*                 915    1,006      636    1,246     1,060
 Total bond            2,469    2,721    2,979    3,256     4,159
    Taxable            1,972    3,203    2,704    2,694     3,740
    Municipal            497     -482      276      562       419
 Total                 1,141    4,389   -4,220    4,409     4,297
 *Hybrid securities can invest in stocks and/or fixed income
securities.
    

 (Reporting By David Gaffen; Editing by Nick Zieminski)
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