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According to Refinitiv Lipper data, investors withdrew about
$14.96 billion from U.S. equity funds during the week, their
biggest week of net selling since June 21.
Wall Street stocks posted big losses last week, with the S&P 500
and the Nasdaq registering their biggest weekly declines since
March as investors took profits after five months of gains.
Also tempering investor appetite, credit rating agency Moody's
downgraded 10 small- to mid-sized U.S. lenders on Monday and
placed another six banks on review for potential downgrades.
Investors sold out of U.S. large-, mid-, and multi-cap funds to
the tune of $14.95 billion, $543 million and $261 million,
respectively, but small-cap funds still drew about $748 million
in inflows.
By sector, materials, financials and tech saw net sales of $891
million, $554 million and $524 million, respectively. Meanwhile,
healthcare funds received $1.39 billion, the most in a week
since March 2022.
Meanwhile, U.S. money market funds and government bond funds
attracted $40.88 billion and $4.48 billion, respectively, as
investors hunted for safety.
On a combined net basis, U.S. bond funds received $3.99 billion
in inflows, compared with about $938 million of outflow in the
previous week.
U.S. general domestic taxable fixed income and
short/intermediate investment-grade funds received about $800
million each in inflows. On the other hand, high yield and loan
participation funds saw net sales of $565 million and $419
million, respectively.
(Reporting by Gaurav Dogra and Patturaja Murugaboopathyin
Bengaluru; Editing by Mark Potter)
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