
Despite the prospect of a Santa Claus rally, along with the strong bull market returns of 2017, investors were net redeemers of equity funds for the fund-flows week ended December 13, 2017, with equity funds (including ETFs) suffering their largest net redemptions (-$16.2 billion, their eleventh largest weekly net outflows on record) since December 21, 2016, despite posting a handsome one-week return of 1.17%. For the fund-flows week the broad-based indices generally rallied to new highs, with the Dow Jones Industrial Average Price Only Index closing the flows week up 1.84%, while the S&P 500 Price Only Index rose 1.28%.