October 24, 2018 / 6:56 PM / 25 days ago

U.S. fund investors pull most cash from stocks since June -ICI

    Oct 24 (Reuters) - U.S. fund investors intensified their
onslaught on the stock market in the latest week, pulling out
the most cash since June as investors fretted about interest
rate hikes, Investment Company Institute (ICI) data showed on
Wednesday.
    More than $12.8 billion slipped out of U.S.-based equity
mutual and exchange-traded funds (ETFs) during the seven days
through Oct. 17, the most recent data available from the trade
group showed.
    That is the most cash to be withdrawn from those products
since late June and came as U.S. Federal Reserve policymakers
showed general agreement that further gradual rate hikes would
be consistent with the economic expansion, labor market strength
and firm inflation that most forecast.
    Bond funds recorded withdrawals of $5.6 billion, a second
straight week of negative sales for a category that has been
enormously popular in recent years but whose returns have
faltered as rates rose this year. 
    The following table shows estimated ICI flows for mutual
funds and ETFs (all figures in millions of dollars):
               10/17    10/10    10/3    9/26    9/19/2018
 Equity        -12,822  -2,542   -4,282  -1,182  10,193
    Domestic   -14,426  -3,044   -4,806  930     10,544
    World      1,605    502      524     -2,112  -351
 Hybrid        -2,574   -1,812   -2,099  -1,768  -1,299
 Bond          -5,637   -7,137   6,497   1,700   4,355
    Taxable    -4,327   -5,484   6,499   2,085   4,239
    Municipal  -1,310   -1,653   -2      -385    116
 Commodity     211      138      -188    253     -91
 Total         -20,821  -11,353  -72     -998    13,158
 
 (Reporting by Trevor Hunnicutt
Editing by Tom Brown)
  
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