Investors in U.S.-based mutual funds withdrew the most money from equity funds in 10 weeks and opted for safer bonds even as markets rallied on hopes for euro zone progress, data from the Investment Company Institute showed on Wednesday.
Retail fund investors were net sellers of U.S. domiciled equity funds, taking the opposite view of professional investors who were net buyers in the week ended June 20, data from Thomson Reuters Lipper showed on Thursday.
U.S. mutual fund inflows, across both equity and fixed income, rebounded to a five-week high, driven largely by investors purchasing taxable bond funds in an attempt to insulate themselves from Europe's fiscal woes, Investment Company Institute data showed on Wednesday.
NEW YORK (REUTERS) - Institutional investors pulled back from equity funds in the week ended April 25, resulting in a modest net outflow for the sector overall, Thomson Reuters' Lipper service data showed on Thursday.
Investors pulled $7.03 billion from equity funds in the week ending April 11, with the bulk of the money coming out of funds invested in U.S. stocks, especially through exchange-traded funds, data from Thomson Reuters' Lipper showed on Thursday.
U.S. municipal bond funds reported $57 million of net outflows in the week ended April 11, the first outflow in more than four months, according to data released by Lipper on Thursday.
U.S. municipal bond funds posted $63 million of net inflows in the week ended on April 4, down sharply from $430 million of net inflows in the previous week, according to data released by Lipper on Thursday.
U.S. mutual fund investors withdrew the most money from equity funds since the start of the year while remaining in bond funds during a choppy week for the U.S. stock market, data from the Investment Company Institute showed on Wednesday.
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