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UPDATE 1-Resurgent U.S. stock fund inflows show return of 'Trump trade'
2017年2月17日 / 凌晨12点33分 / 9 个月前

UPDATE 1-Resurgent U.S. stock fund inflows show return of 'Trump trade'

(Recasts throughout; Adds analyst quote, details on mutual
funds and ETFs, table, byline)
    By Trevor Hunnicutt
    NEW YORK, Feb 16 (Reuters) - Investors boosted their bets on
U.S.-based equity funds in the latest week and helped extend
market gains since the presidential election, Lipper data showed
on Thursday.
    Stock funds based in the United States attracted nearly
$11.5 billion during the week ended Feb. 15, including $8.9
billion into funds invested domestically, the data showed.
    That marks a sharp shift from the week before, when
investors pulled $98 million from domestic stock funds, and a
weakening interest in U.S. stocks since Donald Trump's November
election as president sparked a "Trump trade" rally late last
    "Trump's anti-trade rhetoric with China and Japan have
lessened over the last week," said Tom Roseen, head of research
services for Thomson Reuters Lipper. "People are kind of going,
'Hey, maybe he's not going to be as radical'."
    Trump, who last month accused China and Japan of
manipulating their currencies to give their exports an unfair
advantage, made no public criticism of Japan's monetary policies
during or after an apparently friendly summit this past weekend
with Japanese Prime Minister Shinzo Abe. 
    The rosy sentiment in funds comes as MSCI's All-Country
World index, a gauge of major world equity
markets, hit a record on Thursday. By contrast,
fund investors ignored strong equity markets last year, pulling
$71.5 billion from U.S.-based stock funds as that ACWI index
returned 7.7 percent, according to the Investment Company
Institute, a trade group.
    In another throwback to popular post-election trades,
financial sector funds attracted $1.9 billion in the latest
week, their largest inflows since November. Banks are expected
to profit if Trump and his Republican party, which controls both
houses of the U.S. Congress, deliver on promises to trim
corporate taxes and banking regulations.
    In a continuation of trends developing in the past few
weeks, international stocks continued to attract cash, gathering
$2.5 billion for the second week in a row.
    Investors added $1.5 billion to emerging-market stock funds,
their seventh straight week of inflows and the largest since
last August.
    Taxable bond funds attracted $4.9 billion, their seventh
straight week of attracting cash, the data showed.
    "We're seeing a two-trick pony, with equity markets rising,
and taxable bond funds taking in money as well," said Roseen.
"It was a pretty good week; the inflows show it."
    U.S.-based corporate investment-grade bond funds attracted
$3.1 billion over the weekly period, the group's ninth straight
week of inflows, while high-yield junk bond funds posted their
third straight week of inflows.    
    The following is a broad breakdown of the flows for the
week, including mutual funds and exchange-traded funds:
 Sector                    Flow Chg  % Assets  Assets     Count
                           ($blns)             ($blns)    
 All Equity Funds          11.460    0.21      5,662.892  11,750
 Domestic Equities         8.913     0.23      4,059.187  8,384
 Non-Domestic Equities     2.547     0.16      1,603.705  3,366
 All Taxable Bond Funds    4.912     0.21      2,343.693  5,909
 All Money Market Funds    -2.592    -0.11     2,346.233  1,037
 All Municipal Bond Funds  0.480     0.13      366.501    1,400
 (Reporting by Trevor Hunnicutt; Editing by Jennifer Ablan and
Cynthia Osterman)

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