U.S. equity funds pull first weekly inflow in seven weeks
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[May 27, 2022] (Reuters)
- U.S. equity funds attracted net inflows
in the week to May 25 as shares rallied, with stock markets breaking the
longest streak of weekly declines since the dotcom bubble burst.
According to Refinitiv Lipper data, investors purchased U.S. equity
funds worth a net $4.61 billion, the first weekly inflow since April 6
and the biggest since March 23.
Graphic: Fund flows: US equities bonds and money market funds -
https://fingfx.thomsonreuters.com/
gfx/mkt/zdpxowkwavx/Fund%20flows%20US%20equities%20bonds%20and%20money%20market%20funds.jpg
The S&P 500 and the Nasdaq Composite, have both gained more than 3% this
week after seven straight weeks of losses, their longest losing streak
since 2001.
Upbeat outlooks from domestic companies including the largest U.S.
lender JPMorgan Chase & Co and Vans brand owner VF Corp helped boost
sentiment.
First-quarter earnings reports available for 491 of the S&P 500
companies show 78% beat expectations, according to Refinitiv. U.S.
large-cap equity funds drew net inflows of $9.35 billion, the biggest in
15-weeks, but small- and mid-cap funds saw net outflows of $1.42 billion
and $0.75 billion respectively.
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Investors secured value funds of $0.48 billion after two weeks of sales
but growth funds posted a seventh weekly outflow worth $2.11 billion.
Graphic: Fund flows: US growth and value funds -
https://fingfx.thomsonreuters.com/
gfx/mkt/akpezrxrlvr/Fund%20flows%20US%20growth%20and%20value%20funds.jpg
While industrials attracted $0.77 billion in net buying, financials and
tech suffered outflows of about $1.2 billion each.
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A trader works on the trading floor at the New York Stock Exchange
(NYSE) in Manhattan, New York City, U.S., May 18, 2022.
REUTERS/Andrew Kelly
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Graphic: Fund flows: US equity sector funds -
https://fingfx.thomsonreuters.com/
gfx/mkt/lgpdweaedvo/Fund%20flows%20US%20equity%20sector%20funds.jpg
U.S. investors remained net sellers of bond funds for a 20th week, to the tune
of $4.94 billion, albeit the smallest amount in four weeks.
They sold U.S. taxable bond funds worth $4.41 billion and municipal funds worth
$1.21 billion.
U.S. high yield bond funds and general domestic taxable funds saw net outflows
of $4.57 billion and $1.61 billion respectively, but short/intermediate
government & treasury and inflation protected funds drew $1.96 billion and $1.04
billion in net inflows.
Graphic: Fund flows: US bond funds -
https://fingfx.thomsonreuters.com/
gfx/mkt/egvbkwqwzpq/Fund%20flows%20US%20bond%20funds.jpg
U.S. money market funds attracted $44.07 billion worth of inflows after two
weeks of net selling.
(Reporting by Gaurav Dogra and Patturaja Murugaboopathyin Bengaluru; Editing by
Kirsten Donovan)
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