November 13, 2019 / 4:29 PM / 22 days ago

Fund investors retreat from U.S. stocks, jump into foreign markets

    By David Randall
    NEW YORK, Nov 13 (Reuters) - Investors pulled nearly $7.5
billion out of mutual funds and exchange-traded funds that hold
U.S. stocks last week, extending a retreat from the domestic
stock market over six of the last seven weeks, according to data
released Wednesday by the Investment Company Institute. 
    The pullback from U.S. equities came during a week in which
the S&P 500 notched record highs due to signs of progress in the
U.S.-China trade talks. But concerns about the strength of the
global economy and the high valuation of the U.S. equity market
have continued to weigh on long-term investor sentiment. 
    At the same time, investors sent $3.5 billion into world
equity funds last week, the largest move into the category since
early February and a sign that they may be looking for better
values at a time when the S&P 500 is up more than any other
developed market index since the beginning of the year.
    Investors continued to seek out the perceived safety of
bonds, sending nearly $12.7 billion to taxable and municipal
debt funds last week. That was the largest weekly inflow since
early September and pushed the year-to-date gains for the
category to slightly more than $378 billion. U.S. equity funds,
by comparison, have shed $126.2 billion over the same time. 
    
    The following is a broad breakdown of the flows for the
week, including mutual funds and exchange-traded funds in
millions of dollars:
    
                11/6/201  10/30/20  10/23/2  10/16/20  10/9/201
                       9        19      019        19         9
 Equity           -3,950    -6,910   -5,662       755   -10,609
    Domestic      -7,453    -4,225   -4,695     2,698    -9,964
    World          3,503    -2,684     -967    -1,943      -644
 Hybrid             -626      -767     -170      -398      -688
 Bond             12,666    11,278   10,419    10,473     5,810
    Taxable       10,484     9,613    8,275     8,786     3,856
    Municipal      2,182     1,665    2,144     1,687     1,954
 Commodity           127      -319      222      -151       425
 Total             8,217     3,281    4,809    10,678    -5,061
 
 

 (Reporting by David Randall; Editing by Dan Grebler)
  
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