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United Kingdom

David Randall

Fund investors retreat from U.S. stocks, jump into foreign markets

13 Nov 2019

By David Randall NEW YORK, Nov 13 Investors pulled nearly $7.5 billion out of mutual funds and exchange-traded funds that hold U.S. stocks last week, extending a retreat from the domestic stock market over six of the last seven weeks, according to data released Wednesday by the Investment Company Institute. The pullback from U.S. equities came during a week in which the S&P 500 notched record highs due to signs of progress in the U.S.-China trade talks. But concerns about the strength of the global economy and the high valuation of the U.S. equity market have continued to weigh on long-term investor sentiment. At the same time, investors sent $3.5 billion into world equity funds last week, the largest move into the category since early February and a sign that they may be looking for better values at a time when the S&P 500 is up more than any other developed market index since the beginning of the year. Investors continued to seek out the perceived safety of bonds, sending nearly $12.7 billion to taxable and municipal debt funds last week. That was the largest weekly inflow since early September and pushed the year-to-date gains for the category to slightly more than $378 billion. U.S. equity funds, by comparison, have shed $126.2 billion over the same time. The following is a broad breakdown of the flows for the week, including mutual funds and exchange-traded funds in millions of dollars: 11/6/201 10/30/20 10/23/2 10/16/20 10/9/201 9 19 019 19 9 Equity -3,950 -6,910 -5,662 755 -10,609 Domestic -7,453 -4,225 -4,695 2,698 -9,964 World 3,503 -2,684 -967 -1,943 -644 Hybrid -626 -767 -170 -398 -688 Bond 12,666 11,278 10,419 10,473 5,810 Taxable 10,484 9,613 8,275 8,786 3,856 Municipal 2,182 1,665 2,144 1,687 1,954 Commodity 127 -319 222 -151 425 Total 8,217 3,281 4,809 10,678 -5,061 (Reporting by David Randall; Editing by Dan Grebler)

Investors looking beyond U.S. equity market for 2020

08 Nov 2019

NEW YORK Chinese internet stocks, housing-related debt, and leasing older planes while the Boeing 737 MAX remains grounded are among the top bets for the coming year by speakers at the Reuters Global Investment Outlook 2020 Summit in New York this week.

Climate risks, opportunities, to be major markets factor in 2020

06 Nov 2019

NEW YORK Climate change will impact assets stretching from U.S. municipal bonds to renewable energy stocks in India, adding another layer of volatility to global financial markets in 2020, according to speakers at the Reuters Global Investment Outlook 2020 Summit in New York this week.

Record highs not enough to lure fund investors to U.S. stocks

06 Nov 2019

NEW YORK U.S. investors last week pulled $4.1 billion from mutual funds and exchange-traded funds that hold domestic stocks, extending a pullback from the U.S. equities market that has now lasted for five of the last six weeks, according to data released Wednesday by the Investment Company Institute.

Record highs not enough to lure fund investors to U.S. stocks

06 Nov 2019

By David Randall NEW YORK, Nov 6 U.S. investors last week pulled $4.1 billion from mutual funds and exchange-traded funds that hold domestic stocks, extending a pullback from the U.S. equities market that has now lasted for five of the last six weeks, according to data released Wednesday by the Investment Company Institute. The withdrawals came during a week in which the Federal Reserve continued its pace of equity-friendly interest rate cuts, helping propel the benchmark S&P 500 to record highs. Yet concerns over the trade war between the United States and China and the possibility of a recession over the next 12 months have weighed on investor sentiment, pushing investors into the perceived safety of bonds. For the year to date, investors have pulled nearly $118.5 billion from U.S. stock funds. Over the same time, bond funds have brought in nearly $366.1 billion in new assets despite yields that are historically low. The $11.3 billion investors deposited into the category last week continued a winning streak for bond funds that began in early August. World stock funds, meanwhile experienced approximately $2.7 billion in outflows, the largest weekly drop since late August. For the year to date, investors have pulled nearly $46 billion from the category. The following is a broad breakdown of the flows for the week, including mutual funds and exchange-traded funds in millions of dollars: 10/30/20 10/23/20 10/16/2 10/9/201 10/2/201 19 19 019 9 9 Equity -6,787 -5,659 755 -10,609 -13,429 Domestic -4,100 -4,693 2,698 -9,964 -11,746 World -2,687 -967 -1,943 -644 -1,682 Hybrid -767 -168 -391 -688 -1,163 Bond 11,300 10,419 10,473 5,810 8,427 Taxable 9,635 8,275 8,786 3,856 6,810 Municipal 1,665 2,144 1,687 1,954 1,617 Commodity -319 222 -151 425 489 Total 3,427 4,814 10,686 -5,061 -5,676 (Reporting by David Randall)

Wall Street increasingly weighs risk from climate change

06 Nov 2019

NEW YORK In the wake of two years of devastating wildfires in California, Wall Street is incorporating a new risk metric when evaluating companies: climate resiliency.

Fund investors continue largest retreat from U.S. stocks since Dec '18

30 Oct 2019

By David Randall NEW YORK, Oct 30 Investors continued their retreat from the U.S. stock market by pulling nearly $4.7 billion from mutual funds and exchange traded funds that hold domestic stocks last week, according to data released Wednesday by the Investment Company Institute. Last week's withdrawals marked the fourth time over the last five weeks that investors have pulled money from U.S. stock funds, the longest sustained selling streak since the benchmark S&P 500 nearly fell into a bear market in December of last year. Concerns over the impact of the U.S.-Chinese trade war on the global economy and the possibility that the Federal Reserve will end its equity-friendly interest rate cutting policy have weighed on investor sentiment, keeping the S&P 500 trading within a relatively narrow range. The index notched a record high Monday on the strength of better-than-expected corporate earnings yet fell Tuesday. The index was down slightly in early trading on Wednesday. For the year to date, investors have withdrawn slightly more than $115 billion from domestic stock funds. Fixed income funds, meanwhile, drew in nearly $10.5 billion in new money as investors sought the perceived safety of bonds. For the year to date, the category has swelled with slightly more than $354 billion in new inflows. World stock funds, meanwhile, lost $967 million, leaving the category with seven straight weeks of outflows. For the year to date, investors have pulled nearly $43.1 billion from the category. The following is a broad breakdown of the flows for the week, including mutual funds and exchange-traded funds in millions of dollars: 10/23/201 10/16/201 10/9/201 10/2/201 9/25/201 9 9 9 9 9 Equity -5,656 754 -11,514 -13,431 -15,772 Domesti -4,689 2,698 -10,868 -11,748 -13,957 c World -967 -1,944 -646 -1,682 -1,815 Hybrid -168 -391 -688 -1,147 -1,918 Bond 10,469 10,473 5,810 8,418 6,864 Taxable 8,275 8,786 3,856 6,803 4,587 Municip 2,194 1,687 1,954 1,615 2,278 al Commodity 222 -151 425 489 2,356 Total 4,868 10,685 -5,967 -5,670 -8,470 (Reporting by David Randall; Editing by Steve Orlofsky)

RPT-Wall St Week Ahead-Bond fund managers see risk Fed cuts rates to zero

27 Oct 2019

NEW YORK, Oct 25 Speculation the Federal Reserve will continue cutting interest rates well past its policy meeting next week is pushing some bond fund managers into assets ranging from short-term Treasury bills to half-paid off 15-year home mortgages.

Wall Street Week Ahead: Bond fund managers see risk Fed cuts rates to zero

25 Oct 2019

NEW YORK Speculation the Federal Reserve will continue cutting interest rates well past its policy meeting next week is pushing some bond fund managers into assets ranging from short-term Treasury bills to half-paid off 15-year home mortgages. | Video

Fund investors tiptoe back into U.S. stocks on hopes for trade deal

23 Oct 2019

NEW YORK Investors tiptoed back into the U.S. stock market by adding nearly $2.7 billion into mutual funds and exchange traded funds last week, ending what had been the largest pullback from domestic equities by fund investors since 2013, according to Investment Company Institute data released on Wednesday.

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