April 23, 2020 / 9:55 PM / a month ago

UPDATE 2-U.S. stock funds see fourth straight week of inflows -Lipper

(Adds energy stock fund flows)

NEW YORK, April 23 (Reuters) - U.S.-based stock funds tallied a fourth straight week of inflows, according to Lipper data released on Thursday, although they were at a lower level than earlier in the month as equities slipped after rebounding sharply off March lows.

U.S.-based taxable bond funds attracted $5.3 billion for the week, their second straight week of inflows, following six weeks in a row of outflows, the data showed. U.S. high-yield taxable corporate bond funds had inflows for a fourth straight week, drawing $2.22 billion after a record $7.66 billion in the prior week, according to Lipper.

U.S. stock funds drew $7.1 billion for the week ended Wednesday, extending a streak of inflows that began the week ended April 1. But the inflows in the latest period fell below those of the prior two weeks, the data showed.

The benchmark S&P 500 has rebounded 25% from March 23 after massive stimulus from the Federal Reserve and U.S. government designed to mitigate the economic fallout from shutdowns caused by the coronavirus outbreak.

The index is down 2.7% so far this week as markets have been rattled by the rout in oil prices, and is down 13.4% in 2020.

In a week in which U.S. oil prices turned negative for the first time, energy stock funds had inflows of $24.1 million, Lipper data showed. Those funds had inflows for a third straight week, but they were sharply lower than a week earlier, when they were $190 million, and than the prior week, when they slightly exceeded $1 billion.

The S&P 500 energy sector is up more than 46% from its March low, but still down 42% in 2020.

U.S.-based money market funds, a proxy for investors seeking safe-haven assets, took in $122.6 billion, the eighth consecutive week of inflows, according to the data. That is up from the prior two weeks, but half the level of inflows seen in late March. (Reporting by Lewis Krauskopf; Editing by Chris Reese, Sonya Hepinstall and Dan Grebler)

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