May 30, 2018 / 6:09 PM / 4 months ago

TABLE-Inflows to equity funds slide over 50 pct vs prior week -ICI

    By David Randall
    NEW YORK, May 30 (Reuters) - U.S. investors put
approximately $4 billion into equity mutual funds and
exchange-traded funds in the week ending May 23, a decline of
more than 50 percent from the previous week, according to data
released on Wednesday by the Investment Company Institute (ICI).
    The declines were widespread, with contributions to U.S.
stock funds dropping by 44 percent, while inflows into world
equity funds slid by 72 percent. 
    Inflows to bond funds were largely steady, with $5.2 billion
in new investor contributions, up about $100 million from the
week before.
    The declines in equity fund inflows came in a week when the
Dow Jones Industrial Average hit a two-month high and the
Russell 2000 index of small-cap stocks hit a record high for
four straight sessions after Treasury Secretary Steven Mnuchin
said that the United States and China had put the prospect of a
trade war "on hold." 
    For the year to date, the Dow  is down about 0.5
percent, while the MSCI World Stock index is
down 0.2 percent.
    While investor demand for U.S. equities has waned,
corporations are making up the difference. U.S. companies
announced $183.4 billion in share buybacks during the most
recent earnings season, according to TrimTabs Investment
Research, the second-most on record. 
    The following table shows estimated ICI flows for mutual
funds and ETFs (all figures in millions of dollars):
    
                   5/23      5/16      5/9       5/2     4/25
 Equity           4,007     8,394    2,040    -2,457     -879
    Domestic      3,365     6,066    1,302    -2,992   -3,777
    World           642     2,329      738       535    2,898
 Hybrid            -807      -866     -788      -887     -633
 Bond             5,206     5,177    2,735     3,477    2,264
    Taxable       5,021     4,727    2,383     3,640    2,360
    Municipal       185       450      352      -163      -96
 Commodity          -73      -281      242       -82      508
 Total            8,334    12,425    4,229        51    1,259
 
 (Reporting by David Randall, editing by G Crosse)
  
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