March 30, 2011 / 8:47 PM / 9 years ago

US domestic equity funds outflows extend to 4 weeks

 NEW YORK, March 30 (Reuters) - Investors pulled a net $2.5
billion from domestic-focused U.S. equity mutual funds, a
fourth consecutive week of outflows, while net redemptions of
municipal bonds hit a 20th straight week, industry data showed
on Wednesday.
 ICI, a U.S. mutual fund industry group, reported an
estimated net inflow of $2.2 billion for U.S.-domiciled mutual
funds in the week ended March 23.
 Funds with a focus on foreign equities maintained their
inflow streak started in early September, with the latest week
bringing a net inflow of $1.1 billion.
 Even as U.S. equity markets are rebounding toward 2-1/2
year highs, investors have not abandoned taxable bond funds,
which took in $2.4 billion, marking a ninth consecutive week of
inflows that totals $19.3 billion.
 Municipal bond funds had outflows of $569 million in the
latest week. The $2.9 trillion municipal bond market remains
caught in a national debate about deteriorating finances at the
state and local level due to the financial crisis and economic
downturn.
 While yields on muni bonds have fallen from historic highs
brushed in January and December, both demand and liquidity
remain thin.
 The following table shows a breakdown of the ICI flows for
the past three weeks (all figures in millions of dollars):   
 Estimated flows to long-term mutual funds:
             3/9/2011    3/16/2011    3/23/2011
==================================================
Total Equity        -124          275       -1,415
 Domestic         -1,102       -1,654       -2,508
 Foreign             978        1,929        1,093
Hybrid             1,492        1,220        1,238
Total Bond         3,253        2,875        2,353
 Taxable           3,934        3,493        2,922
 Municipal          -681         -618         -569
==================================================
Total              4,621        4,369        2,176
* Hybrid funds can invest in equity and/or fixed-income
securities
 (Reporting by Daniel Bases; Editing by Kenneth Barry)


0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below