April 17, 2019 / 5:35 PM / a month ago

TABLE-Investors jump back into U.S. stock market after two-week retreat

    By David Randall
    NEW YORK, April 17 (Reuters) - Investors sent a net $6.2
billion into mutual funds and exchange-traded funds that hold
U.S. stocks last week, ending a two-week retreat from the
domestic stock market, according to data released Wednesday by
the Investment Company Institute.
    The move back into the U.S. stock market came amid a rally
that has sent the benchmark S&P 500 up by nearly 16
percent since the start of the year, thanks in part to the U.S.
Federal Reserve's unexpected decision to pause its series of
interest rate hikes. 
    Despite that rally, investors have pulled a net of
approximately $11.4 billion out of U.S. stock funds over the 14
full weeks of the year, according to ICI data. 
    World stock funds, meanwhile, lost a net $400 million,
continuing an eight-week losing streak. For the year-to-date,
world stock funds have pulled in approximately net $3.8 billion.
    Bond funds brought in about net $7.8 billion last week,
continuing a streak of positive inflows over every full week of
the year to date. 
    The outsized inflows into bond funds at the expense of
equity funds at a time when the economy is strengthening could
soon lead to a reversal as investors increase their appetite for
riskier assets, BlackRock chief executive Larry Fink told
Reuters in an interview on Tuesday.
    "We still saw, as an industry and at BlackRock, outflows in
equities and this is one of the reasons why I believe the market
is getting set up for huge inflows into equities," he said.
    
    The following table shows estimated ICI flows for mutual
funds and ETFs (all figures in millions of dollars):  
                        4/10     4/3     3/27     3/20    3/13
 Equity                 5,811   -7,496  -11,085  -2,145  12,310
             Domestic   6,210   -7,465  -10,896   1,474  12,827
             World       -400      -31     -190  -3,619    -517
 Hybrid                  -122   -3,575     -199    -636  -1,420
 Bond                   7,814   11,275    7,884  10,552  11,322
             Taxable    6,676    9,783    5,528   8,660   8,807
             Munis      1,138    1,492    2,356   1,892   2,515
 Commodity               -286     -983      141     393     207
 Total                 13,217     -778   -3,259   8,163  22,419
 
 (Reporting by David Randall; editing by Jennifer Ablan and
Cynthia Osterman)
  
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