BRIEF-Park West Asset Management reports 11 pct passive stake in Nexeo Solutions
* Park West Asset Management reports a 11 percent passive stake in Nexeo Solutions as of April 12 - SEC filing Source text: (http://bit.ly/2pclQ7S)
NEW YORK, June 12 Investors in mutual funds based in the United States pulled more than $10 billion out of bonds funds in the week ending June 5, on fears the U.S. Federal Reserve would begin winding down its bond-buying program, data from the Investment Company Institute showed on Wednesday.
Total estimated outflows from long-term mutual funds were $11.53 billion for the week. The last time fund outflows reached a similar figure was in early October 2012.
Bond funds saw outflows of $10.93 billion, compared to inflows of $1.36 billion during the previous week. Taxable bond funds saw a withdrawal of $8.68 billion, while municipal bond funds had outflows of $2.26 billion.
Equity funds also saw redemptions of $942 million for the week, compared to outflows of $1.00 billion in the previous week.
The benchmark S&P 500 stock index fell 2.4 percent over the reporting period on investors' fears related to the U.S. Federal Reserve's next move. The Fed, which is buying $85 billion in Treasuries and agency mortgage debt per month, signaled on May 22 that it could reduce its bond-buying this year depending on upcoming economic data.
Domestic equity funds had also investors pulling out $2.52 billion, while world equity funds saw $1.58 billion of inflows.
Hybrid funds, which can invest in stocks and fixed income securities, reaped modest inflows of $347 million for the week, compared to inflows of $1.13 billion in the previous week. The following is a breakdown of estimated ICI flows for the past five weeks (all figures in the millions of dollars):
5/8/13 5/15/2013 5/22/2013 5/29/2013 6/5/2013 Total Equity 3,445 2,603 2,631 -1,004 -942
Domestic 362 319 -313 -1,711 -2,521
World 3,082 2,284 2,943 707 1,578 Hybrid* 1,546 1,604 1,389 1,127 347 Total Bond 7,392 4,524 4,125 1,360 -10,933
Taxable 7,655 3,922 3,970 1,576 -8,677
Municipal -263 602 156 -216 -2,256 Total 12,382 8,731 8,144 1,483 -11,528
FRANKFURT, April 24 The table below details the building plans of Germany's power plant operators based on information gathered by industry association BDEW and presented at the annual Hanover industrial fair on Monday. BDEW, which mainly represents power-generating utilities, said 55 units representing around 25,332 megawatts (MW) of capacity could be built in theory. But at the moment, BDEW members have cast doubts on plans for many units due to the largely unprofitable