September 11, 2019 / 6:41 PM / 9 days ago

Fund investors continue retreat from U.S. stock market

    By David Randall
    NEW YORK, Sept 11 (Reuters) - Investors last week pulled
nearly $4.4 billion from mutual funds and exchange-traded funds
that hold U.S. stocks, continuing a retreat from the domestic
equity market that has extended over four of the last five
weeks, according to data released Wednesday by the Investment
Company Institute. 
    The pullback from the U.S. stock market came as concerns
about the trade war between the United States and China have
weighed on investor sentiment, while signs of slowing economic
growth across the globe have pushed companies such as Goldman
Sachs to increase the probability that the United States falls
into recession within the next 12 months. 
    Overall, investors have pulled a net of nearly $98 billion
out of U.S. stock funds since the beginning of the year, with
about $35.5 billion - or 36% of the total outflows - coming
since the start of August. 
    The broad retreat from the U.S. market comes despite a rally
that has pushed the benchmark S&P 500 up 19.4% for the year to
date. The index is up 2.2% since the beginning of September. 
    Investors continued to send money to bond funds, which took
in slightly more than $6.9 billion last week. Those inflows
pushed the year to date gain for the category up to $289.7
billion. 
    World stock funds, meanwhile, were little changed, with a
net inflow of $283 million. Investors have pulled $33.2 billion
from the category since the start of the year. 
    
    The following is a broad breakdown of the flows for the
week, including mutual funds and exchange-traded funds:  
    
    
             9/4/201  8/28/20  8/21/20  8/14/20  8/7/2019
                   9       19       19       19  
 Equity       -4,104   -9,506  -14,007    2,437   -22,583
    Domesti   -4,387   -5,324   -9,384    3,109   -19,568
    c                                            
    World        283   -4,182   -4,623     -672    -3,015
 Hybrid       -1,138   -1,412     -744   -2,739    -1,562
 Bond          6,927    7,952    3,949   10,038    -2,611
    Taxable    5,709    5,993    1,874    8,150    -5,484
    Municip    1,218    1,959    2,074    1,888     2,872
    al                                           
 Commodity       914    1,745      618      307     1,179
 Total         2,598   -1,220  -10,184   10,043   -25,579
 

    
    
    

 (Reporting by David Randall; Editing by Steve Orlofsky)
  
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