November 29, 2018 / 9:54 PM / 6 months ago

UPDATE 1-U.S. mutual fund sales signal retail investor caution

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    By Trevor Hunnicutt
    NEW YORK, Nov 29 (Reuters) - U.S. mutual fund investors
pulled $13.7 billion from stocks and bonds during the latest
week, according to data released on Thursday by Lipper
underscoring retail investors' rising concerns over turbulent
    After a sprinting start to 2018 that saw markets rally, the
following months have brought concerns over tariffs, rising U.S.
interest rates and slowing economic growth. The combination has
led, unusually, to mediocre returns across several types of
financial assets, including both stocks and bonds.
    The average U.S.-based stock fund is down 2.6 percent this
year while the typical bond fund has fallen 1.3 percent,
according to Refinitiv's Lipper research service.
    "We had a flop in oil and I think it had people concerned
about the global growth issue," said Tom Roseen, head of
research services for Lipper.
    "People were still waiting to see what is going to happen."
    Benchmark U.S. crude oil futures fell further during
the week from their highs this year approaching $80, and on
Thursday were down around $51. Meanwhile, trade tariffs continue
to be at the top of investors' worry list ahead of U.S.
President Donald Trump's meeting with Chinese President Xi
Jinping on Saturday.
    Exchange-traded funds (ETFs) showed positive sales across
stocks and bonds during the week, according to Lipper's data for
the seven days through Nov. 28.
    The following is a breakdown of the flows for the week,
including mutual funds and ETFs:
 Sector                    Flow Chg  % Assets  Assets     Count
                           ($blns)             ($blns)    
 All Equity Funds          -8.467    -0.12     7,065.501  12,145
 -Domestic Equities        -6.701    -0.14     5,054.770  8,629
 -Non-Domestic Equities    -1.765    -0.09     2,010.731  3,516
 All Taxable Bond Funds    -2.443    -0.09     2,761.493  6,002
 All Money Market Funds    4.976     0.18      2,813.585  1,016
 All Municipal Bond Funds  -0.379    -0.09     421.816    1,437
 (Reporting by Trevor Hunnicutt
Editing by James Dalgleish and Tom Brown)
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