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U.S. stock fund flows improve after 2017's biggest withdrawals -ICI
August 30, 2017 / 4:08 PM / 3 months ago

U.S. stock fund flows improve after 2017's biggest withdrawals -ICI

    By Trevor Hunnicutt
    NEW YORK, Aug 30 (Reuters) - Withdrawals from U.S.-based
stock funds eased after rising to the highest this year earlier
this month, Investment Company Institute (ICI) data showed on
Wednesday.
    Stock mutual funds and exchange-traded funds posted $1.8
billion in withdrawals during the week through Aug 23. Nearly
$4.7 billion in outflows from domestic equity funds were
countered by $2.9 billion of inflows for funds focused on
international shares, according to the trade group.
    That represents an improvement from the week prior, when
nearly $9.2 billion flowed out of U.S.-based equity funds.

    U.S.-North Korea tensions and questions about the ability of
U.S. President Donald Trump's administration to bring its
economic agenda to fruition have contributed to more volatile
trading this month.
    "There's a host of things that may not work out the way
markets expected," said Matt Forester, chief investment officer
at Lockwood Advisors Inc.
    World equity funds and taxable bond funds have each have
posted 38 straight weeks of inflows, while domestic stock funds
posted their fourth consecutive week of outflows, ICI said.
    Taxable bonds attracted $4.1 billion from fund investors,
while tax-exempt municipal bonds pulled in $1.2 billion in their
largest week of inflows since June, the data showed.    
    The following table shows estimated ICI flows for mutual
funds and exchange-traded funds (all figures in millions of
dollars):
               8/23     8/16     8/9     8/2  7/26/2017
 Equity      -1,807   -9,179   1,854     170      4,987
 -Domestic   -4,687  -11,280  -2,776  -3,878      1,055
 -World       2,879    2,102   4,630   4,049      3,932
 Hybrid      -1,066   -1,772    -339    -943       -350
 Bond         5,312    4,776   8,993   7,020      6,511
 -Taxable     4,072    3,770   7,864   6,106      5,751
 -Municipal   1,240    1,006   1,130     914        760
 Commodity      604      881    -144    -359     -1,168
 Total        3,043   -5,293  10,364   5,889      9,980
 
 (Reporting by Trevor Hunnicutt; Editing by Tom Brown)
  

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