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U.S.-based stock funds
attract $5.6 billion over week: Lipper
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[September 26, 2014]
By Luciana Lopez
NEW YORK (Reuters) -
Investors in U.S.-based funds added a net $5.6 billion
into stock funds in the week ended Sept. 24, data from
Thomson Reuters' Lipper service showed on Thursday. |
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 The inflows marked the seventh straight week of net inflows into the
funds.
However, the net inflows came entirely because of money added to
stock exchange traded funds, which saw net inflows of $6.5 billion
in the week.
In contrast, stock mutual funds saw net outflows of $938 million.
Stock mutual funds are commonly purchased by retail investors, while
exchange-traded funds are thought to attract institutional
investors.
In recent weeks, investors in mutual funds and in ETFs have differed
markedly in their behavior, with retail investors more reluctant to
put money to work in stock funds.
Institutional investors are value shopping, said Jeff Tjornehoj,
head of Americas research at Lipper.
But the outflow from stock mutual funds "points to some uncertainty
by the retail class," he said.
The four-week moving average between the two investment vehicles
underscores the difference.
Mutual funds have a four-week moving average of $462 million in net
outflows; for stock ETFs, the number is a net inflow of $4.9
billion.
The S&P 500 index lost 0.16 percent from its close on Sept. 17
through its close on Sept. 24.
Taxable bond funds posted net inflows of $2.6 billion. Riskier
corporate high-yield bond funds posted net inflows of $528 million.
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Emerging market stock funds posted net outflows of $971 million, the
second week in a row of net outflows. Emerging market debt funds
attracted net inflows of $88 million.
European equity funds saw net outflows of $216 million.
Money market funds saw net inflows of $9.5 billion.
(Reporting by Luciana Lopez; Editing by Diane Craft and Andrew Hay)
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