January 3, 2018 / 5:23 PM / 9 months ago

U.S. fund investors end 2017 cautious on domestic stocks -ICI

    NEW YORK, Jan 3 (Reuters) - U.S. fund investors closed out
2017 in the same cautious stance where they started the year,
favoring bonds and world stocks over equities in their home
market, Investment Company Institute (ICI) data showed on
Wednesday.
    Stock funds attracted $4.1 billion during the week ended
Dec. 27, the trade group said, with about 70 percent of that
moving into funds focused on stocks abroad and the remainder
into domestic-oriented products. Bond funds also attracted $4.1
billion.
    The holiday week marked the 56th in a row of inflows for
taxable-bond and world stock funds.
    Investors have preferred those funds out of a belief that
they can grow their investments and harvest income without
over-committing to a U.S. stock market that has recorded nearly
a decade of gains.
    The ICI data covers mutual funds and exchange-traded funds
(ETFs) based in the United States.
    The S&P 500 index gained more than 19 percent in
2017, or nearly 22 percent if you count dividends, yet domestic
equity funds posted outflows for the third straight year in
2017, according to preliminary data from Thomson Reuters' Lipper
unit. Debt and non-domestic stock funds were strongly positive
on the year.    
    The following table shows estimated ICI flows for mutual
funds and ETFs (all figures in million of dollars):
               12/27  12/20   12/13   12/6    11/29/2017
 Equity        4,106  -1,573  6,838   8,621   3,141
    Domestic   1,208  -9,544  5,347   5,962   -640
    World      2,898  7,971   1,491   2,659   3,782
 Hybrid        -940   -2,122  -1,419  -2,139  -651
 Bond          4,104  1,608   5,015   6,161   6,533
    Taxable    4,484  1,521   4,943   6,471   6,361
    Municipal  -381   87      72      -311    172
 Commodity     -296   -434    5       421     -295
 Total         6,974  -2,522  10,438  13,064  8,728
 
 (Reporting by Trevor Hunnicutt; Editing by Phil Berlowitz)
  
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