August 13, 2015 / 11:09 PM / 4 years ago

UPDATE 1-High-yield, investment-grade funds post third week of outflows -Lipper

(Adds quotes from research analyst at Lipper, table)
    By Sam Forgione
    NEW YORK, Aug 13 (Reuters) - U.S-based high-yield bond funds
reported $1.2 billion in outflows, while U.S.-based
investment-grade corporate bond funds posted their biggest cash
withdrawals since June 2013, at $1.8 billion, data from Thomson
Reuters' Lipper service showed on Thursday. 
    The latest figures, for the week ended Aug. 12, mark the 
third straight week of outflows for the two fund categories,
Lipper said. 
    "The flows data indicated investors were running away from
high yield in both mutual funds and ETFs," said Pat Keon,
research analyst at Lipper. Keon said the iShares iBoxx $ High
Yield Corporate Bond ETF, which suffered outflows of
$524 million, and the SPDR Barclays High Yield Bond ETF,
with withdrawals of $305 million, saw the most money leave among
exchange-traded funds. 
    Investors turned to low-risk, U.S.-based money market funds,
which attracted $6 billion to mark their second straight week of
inflows. Additionally, funds that specialize in U.S. Treasuries
attracted $601 million in inflows, Lipper said.
    U.S.-based domestic-focused stock funds reported $1.5
billion of outflows, for a fourth straight week of outflows,
while U.S.-based non-domestic-focused stock funds attracted $2.4
billion, their fourth straight week of inflows.
    "Despite the turmoil in China, equities continued the trend
we've seen for most of 2015 for mutual funds, non-domestic
equity funds took in net new money for the week, while domestic
equity funds saw money leave their coffers," Keon said. 
    For their part, U.S.-based stock funds posted $936 million
of inflows in week ended Wednesday, their first inflows in five
weeks, Lipper said. 
    The following is a broad breakdown of the flows for the
week, including exchange-traded funds (in $ billions):     
 Sector               Flow Chg        %       Assets     Count
                      ($Bil)          Assets  ($Bil)     
 All Equity Funds     0.936           0.02    5,296.845  11,818
 Domestic Equities    -1.491          -0.04   3,804.987  8,502
 Non-Domestic         2.427           0.16    1,491.858  3,316
 All Taxable Bond     -2.043          -0.09   2,320.491  6,123
 All Money Market     6.016           0.26    2,338.127  1,227
 All Municipal Bond   0.011           0.00    345.812    1,496
 (Reporting by Sam Forgione; Editing by Jonathan Oatis, Jennifer
Ablan and Steve Orlofsky)
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