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Retail investors net sellers of equity funds-Lipper

by on June 21, 2012 11:30 pm BST
 

Thu Jun 21, 2012 7:30pm EDT

NEW YORK, 21 (Reuters) - Retail fund investors were net
sellers of U.S. domiciled equity funds, taking the opposite view
of professional investors who were net buyers in the week ended
June 20, data from Thomson Reuters Lipper showed on Thursday.
    Overall, equity funds had net inflows of $1.6 billion.
Excluding exchange traded funds, which are anecdotally believed
to represent institutional investor behavior, the cash outflows
from net sales reached $417 million.
    It appears the retail sector ignored the rise in equity
prices over the course of the reporting week, whereby the U.S.
benchmark Standard & Poor's 500 stock index rose over 3 percent.
 
    There was more cash available in the market after the
biggest week of net sales in staid money market funds since
August of last year. Investors caused a net outflow of $23.2
billion from money market funds in the latest week.
    Taxable bond funds overall had net inflows of $4.2 billion.
    This was helped by a solid $2.3 billion net inflow for
corporate investment grade bond funds. But even high yield bond
funds took in cash, with a net inflow of $925 million.
    But even as the higher risk sectors pulled in money, the
safety of government-backed mortgage funds remained an
attractive option with inflows of $503 billion.
    The weekly Lipper fund flow data is compiled from reports
issued by U.S.-domiciled mutual funds and exchange-traded funds.
    The following is a broad breakdown of the flows for the
week, including exchange-traded funds (in $ billions): 
    
 Sector                    Flow Chg   %       Assets      Count
                           ($Bil)     Assets  ($Bil)      
 All Equity Funds          1.621      0.06    2,727.830   10,337
 Domestic Equities         1.823      0.09    2,084.139   7,740
 Non-Domestic Equities     -0.202     -0.03   643.691     2,597
 All Taxable Bond Funds    4.199      0.30    1,423.952   4,674
 All Money Market Funds    -23.247    -1.02   2,253.463   1,426
 All Municipal Bond Funds  0.555      0.19    299.819     1,358