June 6, 2018 / 9:58 PM / in 15 days

U.S. stock funds net cash for fourth straight week -ICI

    NEW YORK, June 6 (Reuters) - U.S. fund investors socked away
$5.4 billion in equities during the latest week as desire for
bonds slipped, data from the Investment Company Institute (ICI)
showed on Wednesday.
    Equity funds based in the United States took in cash for a
fourth straight week, according to the trade group, in the seven
days through May 30. Bond funds pulled in $2.2 billion, the
least in nine weeks.
    Stocks are modestly positive so far this year, while many
U.S. bond funds have turned in negative results, under pressure
on fears that economic growth momentum may be slowing or that
inflation could force a quick withdrawal of the U.S. Federal
Reserve's monetary stimulus.
    "Demand for equity funds has remained strong but increased
market volatility is likely to send investors to income oriented
products for downside protection," said Todd Rosenbluth,
director of exchange-traded fund (ETF) and mutual fund research
at CFRA.
    Domestic stock funds took in $4.7 billion, while equity
funds focused abroad yielded just $734 million, weaker than
their $4.4 billion average so far this year, according to the
data. Economic growth expectations have slipped further in
Europe and emerging markets than in the United States.
    The following table shows estimated ICI flows for mutual
funds and ETFs (all figures in millions of dollars):
               5/30       5/23      5/16      5/9    5/2/2018
 Equity        5,435      3,994     8,394     2,040  -2,457
    Domestic   4,701      3,352     6,066     1,302  -2,992
    World      734        642       2,329     738    535
 Hybrid        -642       -807      -866      -788   -887
 Bond          2,241      5,206     5,177     2,735  3,477
    Taxable    1,580      5,021     4,727     2,383  3,640
    Municipal  661        185       450       352    -163
 Commodity     125        -73       -281      242    -82
 Total         7,159      8,320     12,425    4,229  50
 
 (Reporting by Trevor Hunnicutt, Editing by Rosalba O'Brien)
  
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