September 29, 2011 / 10:15 PM / 8 years ago

US equity funds post $5.9 bln in outflows-Lipper

 NEW YORK, Sept 29 (Reuters) - U.S. investors pulled $5.9 billion from all equity funds in the week ended Sept. 28, the bulk of which was withdrawn through exchange-traded funds, data from Thomson Reuters’ Lipper showed on Thursday.
 Investors withdrew $4.2 billion from domestic funds, with $2.7 billion of that being pulled in ETFs. They also withdrew $1.65 billion from non-domestic funds, or $1.5 billion through ETFs, Lipper data showed.
 Most of the equity investments withdrawn was likely institutional money, and some was invested for a very short term — four days or less — said Tom Roseen, a senior analyst with Lipper in Denver.
 “We’ve seen a disproportionate pulling out or putting in via ETFs,” Roseen said. “A lot of people are using ETFs for short-term trading purposes. Big moves like that, we can call it institutional in nature,” he said.
 The ETF outflows were concentrated in four big index funds: $1.29 billion was pulled through the iShares Russell 2000 Index ETF (IWM), $800 million was withdrawn from the SPDR S&P 500 ETF (SPY), $647 million came from the iShares MSCI Emerging Markets ETF (EEM) fund and $594 million came from the iShares Russell 1000 Growth Index ETF (IWF).
 Excluding ETFs, investors pulled $1.55 billion from domestic equity funds and just $132 million from non-domestic equity funds.
 Municipal bond funds experienced their fourth consecutive week of inflows, with $600 million being added, and money market funds took in $6.2 billion. Municipal bond funds have had positive flows for 11 of the past 13 weeks, said Roseen.
 Taxable bond funds took in $1.6 billion during the week.
 Lipper’s weekly fund flows data are compiled from reports issued by U.S.-domiciled mutual funds and exchange-traded funds.
 The following is a broad breakdown of the flows for the week, including ETFs (in billions of dollars): Sector                    Flow     Change     Total     Share
                      Change  in Assets    Assets    Class
                                (pct)                Count ============================================================= All Equity Funds         -5.892    -0.23   2,485.893   10,421  - Domestic Equities     -4.246    -0.22   1,855.518    7,871  - Non-Domestic Equities  1.646    -0.26     630.375    2,550 All Taxable Bond Funds    1.581     0.11   1,392.021    4,437 All Money Market Funds    6.261     0.27   2,368.947    1,496 All Municipal Bond Funds  0.600     0.18     336.837    1,582    

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