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UPDATE 1-U.S.-based stock funds take in most cash since May -Lipper
2017年11月3日 / 凌晨1点06分 / 22 天前

UPDATE 1-U.S.-based stock funds take in most cash since May -Lipper

 (Adds data on mutual funds and ETFs, investor quote, table,
byline)
    By Trevor Hunnicutt
    NEW YORK, Nov 2 (Reuters) - Reluctant investors warmed to
stocks in October, stockpiling $19.3 billion in U.S.-based
equity funds, marking the first month of positive inflows for
the funds since May, when they took in $31.8 billion, Lipper
data showed on Thursday. 
    The massive inflows come as third-quarter earnings seem to
validate the strong market gains for stocks this year, with
earnings estimated to have risen 7.7 percent over the year
prior, according to Thomson Reuters I/B/E/S. The S&P 500
is up 17 percent this year, including dividends.
    For their part, money market funds, where investors park
cash, recorded withdrawals of $21.3 billion in the latest week
ended Wednesday, as investors put money to work in equities.
    Some investors still expressed concern that traders are
chasing lofty markets.
    But Garth Nisbet, a senior portfolio manager at Wells Fargo
& Co's asset management unit, said the economy is
thriving and that there is more upside to come.
    "There's two things that destroy wealth: market timing and
bearishness," he said, referring to market skeptics. "This is a
fairly market-friendly environment."
    U.S.-based stock mutual funds and exchange-traded funds
(ETFs) pulled in $3.6 billion during their fourth straight week
of inflows. Domestic stock fund inflows of $2.2 billion for the
week were the largest since August, according to Lipper.
    Nisbet said it is possible that technology stocks are due
for a pullback following "aggressive" gains, led by Amazon.com
Inc, and that rising U.S. wages may chip away at
corporate profits.
    Bond funds, popular for most of this year, saw their appeal
fade a bit. Taxable-bond funds took in their 17th straight week
of inflows, but just $678 million, down from the nearly $3
billion-a-week average this year.
    High-yield bond funds posted $1.2 billion in withdrawals,
the most since August this year. Treasury fund outflows of $887
million were the largest since August 2016.
    Among developed markets outside the United States, investors
favored Japan over Europe. Japanese stock inflows were the
largest since February at $501 million, while European equity
funds outflows of $404 million were the largest since September,
according to Thomson Reuters' Lipper unit.
    The following is a breakdown of the flows for the week,
including mutual funds and ETFs:
 Sector                    Flow Chg  % Assets  Assets     Count
                           ($blns)             ($blns)    
 All Equity Funds          3.598     0.06      6,296.851  12,127
 Domestic Equities         2.238     0.05      4,221.592  8,647
 Non-Domestic Equities     1.360     0.07      2,075.259  3,480
 All Taxable Bond Funds    0.678     0.03      2,599.764  6,052
 All Money Market Funds    -21.297   -0.82     2,571.202  1,056
 All Municipal Bond Funds  -0.655    -0.16     399.292    1,469
 
 (Reporting by Trevor Hunnicutt; Editing by Jennifer Ablan)
  

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