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Risk appetite was also reflected in high-quality bonds.
U.S.-based investment-grade corporate bond funds attracted $622
million of inflows in the week ended Wednesday, their 12th
straight week of inflows, Lipper data showed on Thursday.
"The equity ETF and taxable bond fund results I would describe
as business as usual," said Pat Keon, senior research analyst at
Thomson Reuters Lipper.
Equity ETFs have had 10 straight weeks of net inflows and are on
pace for their largest annual net inflows ever, Keon noted.
"Taxable bond funds have also been strong all year and most
likely will finish with 2nd highest annual net inflow."
U.S.-based money markets took in more than $2 billion in the
week ended Wednesday - a much lower level than the previous week
of $33 billion, "suggesting that investors were putting money to
work. Also, we saw money leave muni bond funds - about $935
million - a safe haven."
"The muni outflows were spread across several peer groups and
numerous funds, indicating it was more sector wide than fund
specific," Keon said.
U.S.-based high-yield "junk" bond funds posted inflows of $191
million in the week ended Wednesday, the group's second
consecutive week of inflows, Lipper said. Additionally,
U.S.-based financial and banking funds attracted $1.85 billion
of inflows in the latest week, their third consecutive week of
inflows, according to Lipper data.
(Reporting by Jennifer Ablan; Editing by James Dalgleish)
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