May 5 (Reuters) - U.S. equity funds witnessed massive
outflows in the week to May 3, undermined by uncertainty over
U.S. debt ceiling, caution about the Federal Reserve's policy
meeting and a sell-off in regional bank shares.
Investors exited a net $15.61 billion worth of U.S. equity
funds during the reported period, their biggest weekly net
selling since March 29, Refinitiv Lipper data showed.
U.S. large-cap funds lost $7.27 billion in net selling, the
most since March 29, while small- and mid-cap funds saw outflows
of $1.84 billion and $1.29 billion, respectively.
Among sector funds, tech and financials witnessed outflows
of a net $706 million and $389 million, respectively, but
investors poured in $432 million into consumer staples.
Meanwhile, U.S. money market funds drew a net $31.37 billion
worth of inflows, compared with $47.72 billion in net purchases
in the week before.
U.S. bond funds, however, saw net outflows of $1.36 billion.
Investors pulled out from U.S. bond funds for the third week in
a row.
U.S. general domestic taxable fixed income funds witnessed
outflows of $1.49 billion. U.S. high yield funds lost $1.77
billion in their first weekly net selling in five weeks.
Meanwhile, U.S. short/intermediate investment-grade funds
obtained a net $1.92 billion in their biggest weekly inflow in
10 weeks. Investors also purchased $1.07 billion worth of U.S.
government bond funds.
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Fund flows: U.S. domiciled equities, bonds and money market
funds Fund flows: U.S. equity sector funds Fund flows: U.S. bond funds ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
(Reporting by Gaurav Dogra and Patturaja Murugaboopathy in
Bengaluru; Editing by Shilpi Majumdar)
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