Reuters: US Dollar Report: Equity fund net outflow result of ETF redemptions-Lipper

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Equity fund net outflow result of ETF redemptions-Lipper Apr 26th 2012, 23:49 Tweet Share this Email Print Thu Apr 26, 2012 7:49pm EDT By Daniel Bases NEW YORK, April 26 (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. All together, U.S. domiciled equity funds had net outflows of $2.3 billion, the fifth straight week of net selling. This occurred at a time when the U.S. benchmark Standard & Poor's 500 stock index gained 0.40 percent in the course of the reporting week. However, excluding exchange traded funds, which are believed to reflect the investment behavior of institutional investors, equity funds took in a net $289 million. That means the retail sector appears to have been more upbeat on the market than the professionals. The majority of the cash moving into equities was earmarked for funds focused on non-domestic equities. Taxable bond funds pulled in a net $3.66 billion, extending their inflow streak to 19 consecutive weeks. The best performers in the fixed income space were corporate investment grade bond funds, with inflows of $1.428 billion. All of the major fixed income fund categories had positive flows for the week. In equities, overall, the growth/value large-cap category had the biggest outflow with $2.266 billion in net redemptions. Much of that due to the $1.12 billion outflow from the large-cap State Street SPDR S&P 500 ETF. Money market funds had net outflows of just under $3 billion, marking the sixteenth week out of the last eighteen where investors have pulled cash from this sector. The weekly Lipper fund flow data is compiled from reports issued by U.S.-domiciled mutual funds and exchange-traded funds. The following is a broad breakdown of the flows for the week, including exchange-traded funds (in $ billions): Sector Flow Chg % Assets Count ($Bil) Assets ($Bil) All Equity Funds -2.294 -0.08 2,828.658 10,307 Domestic Equities -2.479 -0.12 2,143.337 7,735 Non-Domestic Equities 0.184 0.03 685.321 2,572 All Taxable Bond Funds 3.664 0.26 1,400.744 4,556 All Money Market Funds -2.994 -0.13 2,282.156 1,429 All Municipal Bond Funds 0.459 0.16 292.898 1,370 Tweet this Link this Share this Digg this Email Reprints Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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