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Funds that specialize in U.S. stocks accounted
for all of the total outflows with $12.8 billion in withdrawals
but that number was offset with inflows from funds which
specialize in non-U.S. shares that attracted $1.6 billion in new
cash.
Tom Roseen, head of research services at Lipper, said
institutional investors were net redeemers of domestic equity
funds, pulling money out of the so-called macro group for the
first week in three.
"However, the dovish comments by the People's Bank of China and
the European Central Bank's commitment to its
quantitative-easing plans emboldened authorized participants to
be net purchasers of non-domestic equity funds."
Roseen noted Chinese stocks closed at an almost seven-year high
after the PBOC hinted it was willing to apply more monetary
easing if the economy remained soft.
Taxable bond funds attracted $2.5 billion to mark their third
straight week of inflows. Riskier U.S.-based high-yield "junk"
bond funds attracted $315 million of inflows, their second
straight week of inflows, according to Lipper data.
On the opposite end of the credit spectrum, safer U.S.-based
government-Treasury funds posted $515 million of net inflows,
Lipper added.
Money market funds posted $30.4 billion in outflows to mark
their biggest withdrawals since mid-April 2014.
(Reporting by Sam Forgione, editing by Meredith Mazzilli and
Diane Craft)
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