September 7, 2017 / 11:33 PM / 10 months ago

UPDATE 1-Investors pull $1.1 bln from stock funds, add $6.8 bln in money funds -Lipper

 (Adds quotes from senior analyst, flow figures on money market,
Treasury and corporate bond funds)
    By Sam Forgione
    NEW YORK, Sept 7 (Reuters) - Risk aversion was on display
this week given geopolitical concerns and uncertainty over North
Korea as investors in U.S.-based funds pulled $1.1 billion out
of stock funds in the week ended Sept. 6, and moved money into
"safe haven" money-market and gold funds, data from Thomson
Reuters' Lipper service showed on Thursday. 
    U.S.-based money-market funds attracted $6.8 billion of
inflows over the weekly period, while taxable bond funds
attracted $1.6 billion in inflows to mark their ninth straight
week of inflows, with funds that specialize in safe-haven U.S.
Treasuries drawing $458 million of that sum to mark their fourth
straight week of inflows. 
    U.S.-based commodities precious metals funds, which include
gold futures, attracted $878 million of inflows over the weekly
period, their biggest inflows since early February, according to
Lipper data.
    "Risk off is driven by geopolitical concerns and uncertainty
over North Korea," said Pat Keon, senior research analyst at
Thomson Reuters Lipper. 
    "Markets tanked the first day back from Labor Day weekend
after North Korea announced they tested a hydrogen bomb, and in
response, the U.S. engaged in saber rattling with Secretary
Defense (James) Mattis threatening a massive military response
and United Nations Ambassador Nikki Haley telling the U.N. that
North Korea was begging for war."
    U.S.-based corporate investment-grade bond funds posted
their first cash outflows of the year, albeit a small amount,
according to Lipper. The group saw investors pull $43 million. 
    Emerging markets equity funds posted $107 million in
outflows over the weekly period, their first cash withdrawals in
three weeks, Lipper said. Emerging markets debt funds attracted
$184 million, their third straight week of inflows, Lipper
    The following is a breakdown of the flows for the week,
including mutual funds and exchange-traded funds:
 Sector              Flow Chg      % Assets  Assets       Count
                     ($Bil)                  ($Bil)       
 All Equity Funds    -1.069        -0.02     6,161.036    11,458
 Domestic Equities   -1.120        -0.03     4,223.327    8,173
 Non-Domestic        0.051         0.00      1,937.709    3,285
 All Taxable Bond    1.555         0.06      2,515.539    5,771
 All Money Market    6.751         0.26      2,577.049    1,092
 All Municipal Bond  0.250         0.06      395.126      1,401

 (Reporting by Sam Forgione; Editing by Jennifer Ablan)
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