March 20, 2019 / 4:43 PM / 2 months ago

U.S. stock funds net largest gain since March '18

    By David Randall
    NEW YORK, March 20 (Reuters) - U.S. domestic stock mutual
funds and exchange-traded funds grabbed their largest net
inflows since March 2018 last week as progress on trade talks
between the United States and China pushed the benchmark S&P 500
index to its best week of the year so far. 
    Overall, investors sent a net of $12.8 billion into funds
that hold U.S. stocks during the week ended March 13, according
to data released on Wednesday by the Investment Company
Institute, a trade group. That was a steep reversal from the
week before, when investors pulled approximately $2.6 billion
out of the category, and the largest inflow since the net of
roughly $19 billion investors dropped into U.S. stock funds in
the week that ended March 14 of 2018. 
    The bullishness on U.S. stocks came amid a broad rally in
the S&P 500 spurred by optimism for a breakthrough in the trade
talks between the United States and China, the world's two
largest economies. The S&P 500 gained 2.9 percent for the week,
adding to a rally that has pushed the benchmark index up nearly
13 percent since the start of January. 
    Even with the large net inflows last week, investors have
pulled a net of approximately $746 million out of U.S. stock
funds over the 10 full weeks of this year. 
    World stock funds, meanwhile, posted a four-week losing
streak by shedding a net of $517 million. For the full year to
date, however, investors have sent a net of slightly more than
$8 billion into the category. 
    Bond funds continued their streak of positive inflows by
pulling in a net of $11.3 billion last week. Investors have sent
positive inflows into bond funds during every full week of the
year, adding a net total of approximately $93.6 billion since
the start of January. 
    The following table shows estimated ICI flows for mutual
funds and ETFs (all figures in millions of dollars):    
                   3/13/19    3/6/19  2/27/19  2/20/     2/13/19
                                                  19  
 Equity             12,315    -3,739    1,302   -204           8
        Domestic    12,833    -2,640    4,023    965        -153
        World         -517    -1,099   -2,721  -1,16         161
                                                   9  
 Hybrid             -1,420    -1,267     -774   -858        -880
 Bond               11,329     6,058   11,656  8,568       9,736
        Taxable      8,814     3,994    9,030  6,096       6,751
        Munis        2,515     2,064    2,626  2,472       2,985
 Commodity             207    -1,152     -246   -133        -353
 Total              22,431      -100   11,939  7,373       8,511
 
 (Reporting by David Randall; editing by Jennifer Ablan and
Jonathan Oatis)
  
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