August 1, 2018 / 4:53 PM / 5 months ago

U.S. bond funds attract 23rd straight week of inflows -ICI

    By James Thorne
    NEW YORK, Aug 1 (Reuters) - U.S. fund investors showed
continued demand for bond funds in the latest week, extending a
streak of inflows that dates back to mid-February, Investment
Company Institute data showed on Wednesday.
    Investors also increased deposits in domestic equity and
commodity funds, but fixed income continued to dominate in an
environment of uncertainty over tensions between the U.S. and
its trading partners, according to ICI data collected over the
seven-day period that ended July 25.
    Bond funds attracted $4.4 billion, of which $613 million
went to tax-free municipal bonds.
    Domestic equity exchange-traded funds attracted $3.5
billion, the third straight week of inflows, during an earnings
season in which the majority of U.S. companies have beat
expectations. ETF investors deposited $1.3 billion in global
equity funds.
    Within long-term equity mutual funds, which have seen net
withdrawals since early April, investors added $681 million to
domestic small-cap equities. The category, which has benefited
from tax cuts and is seen as less vulnerable to tariffs, has
taken in cash for nine of the past 10 weeks.
    The following table shows estimated ICI flows for mutual
funds and ETFs (all figures in millions of dollars):
               7/25    7/18     7/11     7/3       6/27/2018
 Equity        419     1,492    -3,155   -10,592   -17,948
    Domestic   523     1,297    -1,546   -11,381   -12,535
    World      -105    195      -1,609   789       -5,413
 Hybrid        -1,165  -1,829   -1,048   -2,552    -1,134
 Bond          4,439   8,660    7,445    4,591     2,980
    Taxable    3,826   6,894    6,416    4,235     2,455
    Municipal  613     1,765    1,028    356       525
 Commodity     164     -308     101      -1,027    -612
 Total         3,856   8,014    3,343    -9,580    -16,714
 
 (Reporting by James Thorne; Editing by Bernadette Baum)
  
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