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High-yield bond funds posted $859 million in
outflows, in a second straight week of withdrawals, while
investment-grade bond funds attracted $1.5 billion in a second
straight week of inflows.
Stock funds attracted $689 million in inflows, in a third
straight week of inflows.
Patrick Keon, research analyst at Lipper, said taxable bond
funds have had positive flows every week so far this year,
totaling more than $28.8 billion. But Keon said equity funds are
doing slightly better this year with net inflows of over $29.9
billion. "The equity fund flows have been more volatile while
the taxable bond activity has been more slow and steady," Keon
said.
So far this year, all of the net new cash into equity funds has
flowed into U.S.-based non-domestic stock funds. Keon said
they've attracted more than $35.7 billion versus U.S.-based
domestic stock funds with net withdrawals of $5.8 billion.
U.S.-based emerging market equity funds attracted $892 million
of net inflows, a sixth week of inflows, according to Lipper
data. U.S.-based emerging market debt funds posted inflows of
$88 million in the latest reporting period, after $84 million in
outflows the prior week, Lipper added.
U.S.-based money market funds posted $8 billion of outflows,
their fifth straight week of net outflows, partly stemming from
tax-related issues.
(Reporting by Sam Forgione; Editing by Jennifer Ablan and Leslie
Adler)
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