September 4, 2014 / 10:11 PM / 3 years ago

UPDATE 2-U.S.-based stock funds attract $4.5 bln over week -Lipper

(Adds European equity funds)
    By Luciana Lopez
    NEW YORK, Sept 4 (Reuters) - Investors in U.S.-based funds
poured $4.5 billion into stock funds in the week ended Sept. 3,
marking the fourth straight week of new money into the funds,
data from Thomson Reuters' Lipper service showed on Thursday.
    The new money came entirely into stock exchange-traded
funds, which attracted $6.2 billion in net inflows. In contrast,
stock mutual funds posted net outflows of $1.7 billion. 
    "Equity mutual fund investors bailed on their choices
again," said Jeff Tjornehoj, head of Americas research at
    "This time they pulled out the most since last year on a
weekly basis," he added. 
    Stock mutual funds are commonly purchased by retail
investors, while exchange-traded funds are thought to represent
the behavior of institutional investors.
    The Standard & Poor's 500 remained nearly flat from
the close of Aug. 27 through the close of Sept. 3. 
    Emerging market equity funds drew $1.2 billion in net new
funds, the tenth straight week of such inflows. 
    Those funds are "attractive to risk takers, and they have
not forsaken what has been one of the better performers this
year," Tjornehoj said. 
    European equity funds added $76 million in net new cash,
their first such inflows since early June.
    Taxable bond funds posted net outflows of $299 million, the
first such outflows since early August. Riskier corporate
high-yield bond funds posted net outflows of $198 million.
    Money market funds post net outflows of $7.9 billion over
the week.
    The weekly Lipper fund flow data is compiled from reports
issued by U.S.-domiciled mutual funds and exchange-traded funds.
 Sector                    Flow Chg  Pct of    Assets     Count
                           ($Bil)    Assets    ($Bil)     
 All Equity Funds          4.534     0.11      4,279.107  10,932
 Domestic Equities         2.311     0.07      3,159.904  7,975
 Non-Domestic Equities     2.224     0.20      1,119.203  2,957
 All Taxable Bond Funds    -0.299    -0.02     1,834.128  5,569
 All Money Market Funds    -7.899    -0.34     2,301.086  1,304
 All Municipal Bond Funds  0.380     0.13      299.357    1,421

 (Reporting by Luciana Lopez; Editing by Grant McCool)
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