Reuters logo
CORRECTED-(OFFICIAL)-UPDATE 1-U.S. stock ETFs attract most cash since June -Lipper
August 31, 2017 / 11:35 PM / 3 months ago

CORRECTED-(OFFICIAL)-UPDATE 1-U.S. stock ETFs attract most cash since June -Lipper

 (Please see table at bottom, corrected to comply with an
official correction from Lipper)
    By Trevor Hunnicutt
    NEW YORK, Aug 31 (Reuters) - U.S. fund investors regained
their risk appetite during the latest week, draining money
market funds and pouring their cash into stocks after six
straight weeks of withdrawals.
    Stock exchange-traded funds in the United States attracted
$9.2 billion during the week ended Aug. 30, the most since June,
according to Lipper data on Thursday.
    That more than offset the $3.1 billion that bled from equity
mutual funds in the same period, the research service said.
Mutual funds are heavily favored by retail investors, while ETFs
draw a diverse set of clients, including fast-trading hedge
funds.
    Tom Roseen, head of research services for Thomson Reuters'
Lipper unit, said there is plenty to worry about with ongoing
conflict between North Korea and the United States as well as
"lofty" U.S. stock prices. Yet the global economy looks good.
    "People were a little bit more aggressive," Roseen said of
ETF investors. "They were just focused on the good news."
    Funds focused on domestic shares pulled in $3.9 billion, the
most since June. Internationally focused equity funds pulled in
$2.2 billion, the most since July, Lipper said.
    Money market funds, which have pulled in tens of billions
this summer as calm markets turned turbulent, posted $19.9
billion in withdrawals during the latest week, the data showed.
    But Roseen said uncertainty is keeping demand up for some
safe-haven investments. Gold is trading at $1,321 an
ounce, up nearly 9 percent from early July.
    Precious metals commodities funds, which invest directly in 
gold and other similar assets, pulled in $766 million in their
largest week of inflows since June. The VanEck Vectors Gold
Miners ETF pulled in $213 million, the most since March.
That fund buys shares in companies that produce bullion.
    The following is a breakdown of the flows for the week,
including mutual funds and exchange-traded funds:
    
 Sector            Flow Chg  % Assets  Assets      Count
                   ($blns)             ($blns)     
 All Equity Funds  6.136     0.10      6,126.670   11,448
 -Domestic         3.928     0.09      4,199.973   8,165
 Equities                                          
 -Non-Domestic     2.208     0.12      1,926.697   3,283
 Equities                                          
 All Taxable Bond  2.128     0.09      2,503.163   5,773 
 Funds                                             
 All Money Market  -19.912   -0.77     2,560.250   1,092
 Funds                                             
 All Municipal     0.345     0.09      393.086     1,408 
 Bond Funds                                        
 
 (Reporting by Trevor Hunnicutt; Editing by Jennifer Ablan and
Andrew Hay)
  

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below