October 2, 2019 / 3:59 PM / 14 days ago

Investors retreat from U.S. stock funds amid impeachment inquiry

    By David Randall
    NEW YORK, Oct 2 (Reuters) - Investors pulled nearly $14
billion out of mutual fund and exchange-traded funds that hold
U.S. stocks last week, ending what had been the largest surge
into domestic stock funds since December 2016, according to data
released Wednesday by the Investment Company Institute. 
    The retreat from U.S. stocks came during a week in which
Democratic lawmakers moved to launch formal impeachment
proceedings that could end with a vote to remove President
Donald Trump from office and the White House released a summary
of a telephone call between Trump and Ukraine's president that
is at the center of the inquiry. 
    Last week's losses sent the year to date outflows from U.S.
stock funds to $91.1 billion as investors have shied away from
domestic stocks despite a more than 15% rally in the benchmark
S&P 500 index. 
    Investors continued to seek the perceived safety of bonds by
sending slightly more than $6.9 billion into taxable and
municipal debt funds. For the year-to-date, the category has
garnered more than $319 billion in new inflows. 
    World stock funds, meanwhile, posted a three-week losing
streak by dropping another $1.8 billion in outflows. That sent
the year to date loss for the category to $37.9 billion. 
    
    The following is a broad breakdown of the flows for the
week, including mutual funds and exchange-traded funds: 
    
             9/25/20  9/18/201  9/11/20  9/4/201  8/28/20
                  19         9       19        9       19
 Equity      -15,779    10,036    7,551   -4,106   -9,506
    Domesti  -13,957    11,807    8,598   -4,389   -5,324
    c                                             
    World     -1,822    -1,771   -1,047      283   -4,182
 Hybrid       -1,918      -843     -687   -1,132   -1,404
 Bond          6,913     9,293   13,021    6,924    7,954
    Taxable    4,587     8,906   11,734    5,708    5,994
    Municip    2,327       387    1,287    1,217    1,961
    al                                            
 Commodity     2,356       260     -396      914    1,745
 Total        -8,428    18,747   19,489    2,599   -1,211
 
 (Reporting by David Randall
Editing by Nick Zieminski)
  
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