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Investors sold $4.57 billion of U.S. equity funds on a net basis
during the week, logging outflows for the fifth consecutive
week, according to LSEG data.
U.S. Treasury bond yields surged after consensus-topping retail
sales data on Tuesday added to evidence that the economy is
chugging along despite the Federal Reserve's efforts to curb
inflation through interest rate hikes.
Among equities, growth funds witnessed $1.52 billion of selling
on net basis after obtaining roughly $1.93 billion in inflows in
the past week. Value funds also experienced withdrawals,
amounting to $1.12 billion on a net basis.
Utilities and tech topped sectoral outflows, booking $931
million and $707 million of outflows each. Industrials, however,
drew $385 million, the biggest weekly inflow since Aug. 9.
Investors also liquidated about $3.66 billion of bond funds,
compared with about $1.13 billion of net purchases in the
previous week.
U.S. short/intermediate investment-grade, and high yield funds
saw $2.4 billion and $1.93 billion worth of net selling,
respectively. Although, short/intermediate government &
treasury, and mortgage funds still secured $742 million and $489
million, respectively in inflows.
Investors also pulled out of money market funds for a second
successive week, with about $97.26 billion of net selling in the
week to Oct. 18.
(Reporting by Gaurav Dogra and Patturaja Murugaboopathy in
Bengaluru; Editing by Dhanya Ann Thoppil)
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