The Financial & Risk business of Thomson Reuters is now Refinitiv

All names and marks owned by Thomson Reuters, including "Thomson", "Reuters" and the Kinesis logo are used under license from Thomson Reuters and its affiliated companies.

April 29, 2016

Quiet Week for Equities Doesn’t Stop Equity Fund Redemptions

by Jeff Tjornehoj.

Equity markets were flat for the fund-flows week ended Wednesday, April 27. The Dow Jones Industrial Average moved only a little more than 100 points between its highest and lowest closes and finished the week down 55 points (or minus 0.3%). This past week equity exchange-traded fund (ETF) authorized participants were responsible for sending about $3.2 billion into SPDR S&P 500 (SPY) and $487 million into iShares Russell 2000 (IWM) while pulling $675 million from SPDR Consumer Staples (XLP). As is their habit these days, equity mutual fund investors pulled $4.5 billion (net) from their funds and brought the year-to-date equity mutual fund outflows to $18.3 billion.

High yield fund investors were of different minds this week: High yield mutual funds saw net inflows of $555 million, while high yield ETFs saw net outflows of $258 million. Bond ETFs gathered $260 million of net inflows. The week’s biggest individual bond ETF net inflows belonged to iShares Core U.S. Aggregate Bond (AGG, +$242 million).

Municipal bond mutual fund investors added a whopping $1.1 billion net to their accounts, which was the highest amount since the last week of 2015. As seasonal tax payments ebbed, money market funds saw net inflows of $5.0 billion for the week.

Article Topics
Article Keywords ,

Get In Touch

Subscribe

We have updated our Privacy Statement. Before you continue, please read our new Privacy Statement and familiarize yourself with the terms.×