July 19, 2018 / 11:20 PM / a month ago

UPDATE 1-U.S. equity ETFs break six-week streak of outflows -Lipper

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    By James Thorne
    July 19 (Reuters) - Fund investors piled into U.S.-based
equity exchange-traded funds in the week ended Wednesday,
following six straight weeks of withdrawals, Lipper data showed
on Thursday, as investors geared up for strong quarterly
earnings.
    The flows showed that investors were "putting money back
into play," said Pat Keon, senior research analyst at Thomson
Reuters Lipper.
    ETF investors put $4.7 billion of the $5 billion in net
inflows to U.S.-based equity ETFs into funds focused on domestic
stocks.
    The S&P 500 rose 1.5 percent from July 11 to 18 as
earnings trickled in from major banks, including JPMorgan Chase
& Co, as well as railroad CSX Corp and airline
United Continental.
    Results were mixed, but investors are still expecting
market-leading technology firms and several other sectors to
deliver double-digit profit growth over the year prior,
according to Credit Suisse data.
    Elevated risk appetite was also evident in withdrawals from
U.S.-based money-market funds, which posted $6.5 billion in
outflows, after $21 billion in inflows the week prior. Investors
use money-market funds to temporarily park cash.
    In the coming weeks, companies will have to live up to
strong expectations for results and investors will contend with
continuing disputes between the U.S. and its major trading
partners.
    Uncertainty over trade has helped demand for some lower-risk
sources of yield. U.S.-based corporate investment grade bond
funds brought in cash for the 19th straight week with $2 billion
in deposits.
    Municipal bond funds took in $1.2 billion, the most cash
since April 2017.
    The following is a breakdown of the flows for the week,
including mutual funds and ETFs: 
 Sector                    Flow Chg  % Assets  Assets     Count
                           ($blns)             ($blns)    
 All Equity Funds          1.088     0.01      7,521.950  12,336
 -Domestic Equities        2.079     0.04      5,300.893  8,776
 -Non-Domestic Equities    -0.991    -0.05     2,221.057  3,560
 All Taxable Bond Funds    1.180     0.04      2,799.369  6,079
 All Money Market Funds    -6.460    -0.24     2,714.786  1,039
 All Municipal Bond Funds  1.259     0.29      437.269    1,460
 
 (Reporting by James Thorne; editing by Diane Craft)
  
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