October 30, 2019 / 3:11 PM / a month ago

Fund investors continue largest retreat from U.S. stocks since Dec '18

    By David Randall
    NEW YORK, Oct 30 (Reuters) - Investors continued their
retreat from the U.S. stock market by pulling nearly $4.7
billion from mutual funds and exchange traded funds that hold
domestic stocks last week, according to data released Wednesday
by the Investment Company Institute.
    Last week's withdrawals marked the fourth time over the last
five weeks that investors have pulled money from U.S. stock
funds, the longest sustained selling streak since the benchmark
S&P 500 nearly fell into a bear market in December of last year.
    Concerns over the impact of the U.S.-Chinese trade war on
the global economy and the possibility that the Federal Reserve
will end its equity-friendly interest rate cutting policy have
weighed on investor sentiment, keeping the S&P 500 trading
within a relatively narrow range. The index notched a record
high Monday on the strength of better-than-expected corporate
earnings yet fell Tuesday. The index was down slightly in early
trading on Wednesday. 
    For the year to date, investors have withdrawn slightly more
than $115 billion from domestic stock funds. 
    Fixed income funds, meanwhile, drew in nearly $10.5 billion
in new money as investors sought the perceived safety of bonds.
For the year to date, the category has swelled with slightly
more than $354 billion in new inflows. 
    World stock funds, meanwhile, lost $967 million, leaving the
category with seven straight weeks of outflows. For the year to
date, investors have pulled nearly $43.1 billion from the
category. 
    
    The following is a broad breakdown of the flows for the
week, including mutual funds and exchange-traded funds in
millions of dollars: 
    
             10/23/201  10/16/201  10/9/201  10/2/201  9/25/201
                     9          9         9         9         9
 Equity         -5,656        754   -11,514   -13,431   -15,772
    Domesti     -4,689      2,698   -10,868   -11,748   -13,957
    c                                                  
    World         -967     -1,944      -646    -1,682    -1,815
 Hybrid           -168       -391      -688    -1,147    -1,918
 Bond           10,469     10,473     5,810     8,418     6,864
    Taxable      8,275      8,786     3,856     6,803     4,587
    Municip      2,194      1,687     1,954     1,615     2,278
    al                                                 
 Commodity         222       -151       425       489     2,356
 Total           4,868     10,685    -5,967    -5,670    -8,470
 

 (Reporting by David Randall; Editing by Steve Orlofsky)
  
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