off-the-wire

U.S. equity funds post outflows for 17th week in a row

Kitco Media
By Reuters
Published:
Updated:
Reuters
March 10 (Reuters) - Investors pulled out of U.S. equity funds for a seventeenth straight week on concerns that the Federal Reserve could raise interest rates to a higher-than-expected level to combat inflation pressures. The outflows, however, were the lowest in five weeks as growth in the services sector in February offered some hope. Investors exited a net $1.23 billion worth of U.S. equity funds in the week to March 8, their smallest weekly net selling since Feb. 1, Refinitiv Lipper data showed.


Investors purchased about $914 million worth of U.S. small-cap equity funds after $1.32 billion worth of net selling in the previous week. Still, large- and mid-cap funds saw $1.68 billion and $375 million worth of outflows, respectively. Among U.S. sector funds, industrials drew $701 million, while gold & precious metals, and materials obtained about $100 million each in inflows. Investors sold a net $663 million worth of healthcare funds.


Meanwhile, U.S. bond funds received a net $3.2 billion worth of inflows, the biggest in six weeks. U.S. short/intermediate government & treasury and mortgage funds received $2.72 billion and $386 million worth of inflows, respectively, while outflows from high-yield funds eased to a four-week low of $55 million.


Investors withdrew $7.38 billion from money market funds after three straight weeks of net buying. <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Fund flows: US equities, bonds and money market funds Fund flows: US equity sector funds Fund flows: US bond funds ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Gaurav Dogra and Patturaja Murugaboopathy in Bengaluru; Editing by Shilpi Majumdar)

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