U.S. Weekly FundFlows Insight Report: Investors Sour On Equity Funds As APs Pump Money Into Equity And Bond ETFs

Conventional Equity Funds

For the forty-fourth consecutive week, conventional fund (ex-ETF) investors were net redeemers of equity funds, withdrawing $1.9 billion. Domestic equity funds, handing back a little more than $3.1 billion, witnessed their fourth weekly net outflows while posting a 0.76% return on average for the fund-flows week. Their nondomestic equity fund counterparts, posting a 0.08% gain on average, witnessed their first week of net inflows in 10, taking in $1.2 billion this past week. On the domestic equity side, fund investors continued to shun large-cap funds (-$2.0 billion) and small-cap funds (-$707 million), while investors on the nondomestic equity side were net purchasers of international equity funds (+$1.3 billion) but remained net redeemers of global equity funds (-$108 million).

Conventional Fixed Income Funds

For the third consecutive week, taxable bond funds (ex-ETFs) witnessed net inflows, attracting some $5.4 billion this past week, while posting a 0.21% return for the fund-flows week. Investors were net purchasers of corporate investment-grade debt funds (+$3.1 billion) and flexible funds (+$1.2 billion), while government-Treasury funds (-$180 million) witnessed the only net outflows of the group. For the fifty-fifth straight week, municipal bond funds (ex-ETFs) witnessed net inflows—taking in $1.9 billion— while posting a 0.19% gain on average for their fourth straight weekly market gain.

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