While U.S. equity markets appear to have gotten their second wind, hitting a new round of record highs during the Refinitiv Lipper fund-flows week ended March 10, 2021—excluding the NASDAQ, which entered correction territory, ETF and mutual fund investors appear to be very selective in their purchasing choices. Year to date, through the most recent fund-flows week, investors have injected a net $254.9 billion into conventional funds and ETFs. The primary attractor of investors’ assets, despite a steepening of the Treasury yield curve, continues to be taxable bond funds (+$107.4 billion), followed by money market funds (+$76.9 billion), equity funds

Shrugging off plus-side returns for the week, for the eighth week in a row investors were overall net redeemers of fund assets (including those of conventional funds and ETFs), withdrawing $15.9 billion for Refinitiv Lipper’s fund-flows week ended September 30, 2020. Fund investors were net redeemers of all four asset classes, withdrawing $14.0 billion from money market funds, $1.1 billion from taxable fixed income funds, $775 million from municipal bond funds, and $9 million from equity market funds this week. Market Wrap-Up U.S. markets managed to post handsome plus-side returns during the fund-flows week despite experiencing their first monthly decline

Investors were net sellers of mutual fund assets for the third month in a row, withdrawing $63.7 billion from the conventional funds business (excluding ETFs, which are reviewed in the section below) for August. During the month, the major U.S. benchmarks continued on their upward trajectories as investors weighed the ongoing concerns of a rise in new coronavirus outbreaks and the impasse on Capitol Hill on extending the emergency unemployment package against improvements in the U.S. unemployment rate and continued commitment by the Federal Reserve Board to support the economy. For the nineteenth month in a row, stock & mixed-assets