Reuters reports that
investors in U.S.-based mutual funds pulled money out of equity funds for the
sixth straight week and preferred bond funds as many anticipated hints of extended
bond-buying from the U.S. Federal Reserve, data from the Investment Company
Institute showed on Wednesday.
Equity funds had
estimated net outflows of $4.43 billion in the week ended Aug. 29, said ICI, a
U.S. mutual fund trade organization. About $3 .71 billion of the net outflows
was yanked from funds that target U.S. stocks. Bond funds attracted $6.55
billion in net new money, their 13th straight week of inflows and down modestly
from inflows of $6.83 billion the previous week. Bond funds have had just one week
of outflows this year, a mere $211 million in the week ended May 30…
..
Hybrid funds, which can invest in stocks and fixed income securities,
attracted $866 million in inflows, down from the previous week's 27-week high
of $2.41 billion in inflows….
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