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U.S.-based equity funds gain $2.39 bln in latest week -ICI
April 24, 2013 / 8:57 PM / 4 years ago

U.S.-based equity funds gain $2.39 bln in latest week -ICI

By Manuela Badawy
    NEW YORK, April 24 (Reuters) - Investors in U.S.-based mutual funds poured
$2.39 billion into equity funds during the week ended April 17, data from the
Investment Company Institute showed on Wednesday.
    Domestic equity funds had estimated inflows of about $1.75 billion, while
estimated inflows to world equity funds were $645 million, said ICI, a U.S.
mutual fund trade organization.
    The rise in equity markets has attracted investors into stocks in the
Standard & Poor's 500 and Dow Jones industrial average. So far, 
the S&P is up 0.6 percent in April. If it finishes higher on the month, it would
mark the sixth consecutive month of gains for the 500-stock index. The Dow is up
0.7 percent so far in April. If it finishes higher, it would be the Dow's fifth
consecutive month of gains. 
    Bond funds continued their intake streak for the 23rd consecutive week with
estimated inflows of $1.51 billion, compared with inflows of $1.71 billion
during the previous week. 
    Taxable bond funds has estimated inflows of about $2.21 billion, while
municipal bond funds had estimated outflows of $698 million.
    Hybrid funds, which can invest in stocks and fixed income securities, had
estimated outflows of $246 million for the week, compared with estimated inflows
of $1.37 billion in the previous week.
    The following is a breakdown of ICI flows for the past five weeks (all
figures in the millions of dollars):
    
                3/20/13   3/27/13     4/3/13   4/10/13   4/17/13
 Total Equity    5,025      3,822      1,254     1,625     2,394
    Domestic     1,277        969     -1,827       405     1,749
    World        3,748      2,853      3,081     1,219       645
 Hybrid*         1,406      1,819      1,145     1,363     -246
 Total Bond      5,952      3,446      6,428     1,845     1,511
    Taxable      6,231      3,392      6,355     2,702     2,209
    Municipal     -278         54         73      -857      -698
 Total          12,383      9,087      8,827     4,833     3,659

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