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Equity funds attract $640 mln after four losing weeks-ICI
July 25, 2012 / 6:25 PM / 5 years ago

Equity funds attract $640 mln after four losing weeks-ICI

 By Sam Forgione
 NEW YORK, July 25 (Reuters) - Investors in U.S.-based mutual
funds sought equity funds for the first time in five weeks as
strong corporate earnings boosted markets, data from the
Investment Company Institute showed on Wednesday for the latest
week.
 Equity funds saw net inflows of $640 million in the week
ended July 18, the first net inflows into those funds since
mid-June, said ICI, a U.S. mutual fund trade organization.
 Funds that target U.S. stocks saw $99 million in inflows,
the first batch of new money for the group in seven weeks.
 Additional inflows of $542 million into funds that target
foreign stocks led to the net inflows of $640 million into all
equity funds.
 The benchmark S&P 500 rose 2.34 percent over the
reporting period as many corporate earnings results beat
forecasts, including those of big banks Goldman Sachs and
JP Morgan.
 Investors still favored bond funds, however, which saw
inflows of $6.46 billion, the most in 10 weeks and modestly up
from the previous week's inflows of $6.37 billion. 
 Hybrid funds, which can invest in stocks and fixed-income
securities, had inflows of $905 million, up from the previous
week's inflows of $1.75 billion. 
 The following table shows a breakdown of ICI flows for the
past five weeks (all figures in millions of dollars):


            6/20/2012  6/27/12  7/3/12  7/11/2012  7/18/2012
 Total Equity     -1,496   -1,124  -2,865       -537        640
 Domestic      -1,823   -1,461  -3,166     -1,464         99
 World            327      337     301        927        542
 Hybrid*           1,194       18   1,131      1,752        905
 Total Bond        4,906    4,321   1,354      6,373      6,460
 Taxable        4,046    3,244     484      5,202      5,114
 Municipal        860    1,077     870      1,171      1,346
 Total             4,604    3,214    -380      7,589      8,005
* Hybrid funds can invest in stocks and/or fixed-income
securities.

 (Reporting by Sam Forgione; Editing by David Gregorio)
 

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