September 15, 2017 / 12:11 AM / 10 months ago

UPDATE 1-U.S. fund investors rush into money-market funds, Treasuries -Lipper

 (Adds data on mutual funds and ETFs, analyst quote, table,
    By Trevor Hunnicutt
    NEW YORK, Sept 14 (Reuters) - U.S. fund investors sought
shelter during the latest week, pouring more than double the
amount from the previous week into money markets, and
stockpiling the most in "safe haven" Treasuries in more than a
year, Lipper data showed on Thursday.
    Political uncertainty has weighed on funds even if it has
not tempered lofty stock prices, with several equity indexes
touching record highs during the latest week. Fund investors
have been unnerved by threats from North Korea, which fired a
missile over Japan after testing a powerful nuclear bomb.

    Cash-like money market funds pulled in $17.7 billion during
the week ended Sept. 13, accelerating from $6.8 billion the
previous week, while Treasury mutual funds and exchange-traded
funds (ETFs) attracted $3 billion, the most since January 2016,
Lipper data for U.S.-based funds showed.
    One of the funds, iShares 20+ Year Treasury Bond ETF
, snapped up $1.7 billion in its largest week of inflows
on record.
    "This is serious stuff going on in Korea," said Tom Roseen,
head of research services for Thomson Reuters' Lipper unit. "All
eyes are on that right now."
    Roseen said markets could see a pullback in coming weeks.
    Stock funds based in the United States posted $410 million
in withdrawals during the week, the research service's data
    Non-domestic equity fund flows weakened to $370 million of
outflows, their largest withdrawals since June. International
stocks have been popular this year. Yet Japanese stock funds
posted $396 million in withdrawals, their seventh straight week
of outflows. European stock funds posted $564 million in
outflows, the largest withdrawals in about a year.
    Some U.S. stock sectors strengthened. Healthcare and biotech
sector funds pulled in $439 million, the most in a week since
July. Technology sector funds attracted $436 million in their
third straight week of inflows.
    The following is a breakdown of the flows for the week,
including mutual funds and exchange-traded funds:
 Sector                    Flow Chg  % Assets  Assets     Count
                           ($blns)             ($blns)    
 All Equity Funds          -0.410    -0.01     6,361.868  12,488
 Domestic Equities         -0.040    -0.00     4,350.105  8,847
 Non-Domestic Equities     -0.370    -0.02     2,011.763  3,641
 All Taxable Bond Funds    1.893     0.07      2,554.372  6,220
 All Money Market Funds    17.729    0.69      2,595.882  1,113
 All Municipal Bond Funds  0.241     0.06      399.127    1,543
 (Reporting by Trevor Hunnicutt; Editing by Jennifer Ablan and
Lisa Shumaker)
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