U.S. Weekly FundFlows Insight Report: ETF And Fund Investors Focus On Fixed Income During The Fund-Flows Week

Conventional Equity Funds

Conventional fund (ex-ETF) investors were net redeemers of equity funds for the twenty-sixth week in a row, withdrawing $6.0 billion this week, with the macro-group posting a 1.19% market decline for the fund-flows week (its first week of negative returns in four). Domestic equity funds, suffering net redemptions of slightly less than $4.7 billion, witnessed their nineteenth consecutive weekly net outflows while posting a 1.40% decline on average for the fund-flows week. Nondomestic equity funds—posting a 0.73% market loss on average—experienced their ninth consecutive week of net outflows, handing back $1.3 billion this past week. On the domestic equity side, fund investors shunned large-cap funds (-$4.1 billion), while equity income funds were the main attractors of investors’ assets (+$235 million). Investors on the nondomestic equity side were net redeemers of international equity funds (-$976 million) while being net redeemers of global equity funds (-$309 million).

Conventional Fixed Income Funds

For the third consecutive week, taxable bond funds (ex-ETFs) witnessed net inflows—attracting $5.1 billion this past week—while posting a 0.40% loss for the fund-flows week. Investors were net purchasers of corporate investment-grade debt funds (+$5.3 billion), corporate high-yield funds (+$439 million), and government-Treasury and mortgage funds (+$434 million), while flexible funds (-$1.5 billion) witnessed the largest net outflows of the group. Municipal bond funds (ex-ETFs) witnessed net inflows for the third week in a row, taking in $724 million. The municipal bond fund group posted a 0.06% loss on average during the week, posting its second decline in three weeks.

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