January 16, 2019 / 5:17 PM / a month ago

Investors end 13 straight weeks of U.S. fund withdrawals

    By Trevor Hunnicutt
    NEW YORK, Jan 16 (Reuters) - Investors sweetened on
financial markets in early January and ended a 13-week retreat
from U.S.-based funds, the Investment Company Institute (ICI)
said on Wednesday.
    U.S.-based stock mutual funds and exchange-traded funds
attracted a net $11.3 billion during the week ended Jan. 9,
while bonds gathered $6.3 billion and commodities took in $711
million, according to the trade group.
    Investors fretting over slowing global economic growth and
restrictive U.S. Federal Reserve monetary policy drained funds 
in the closing days of 2018. But they have responded positively
in the new year as Fed officials have repeatedly suggested that
a pause in rate hikes could be appropriate.
    Investors pulled $98 billion from U.S.-based stock funds and
$77 billion from bonds in December, a calendar-month record,
preliminary Lipper estimates show.
    January is typically a stronger month than December for fund
sales as people reinvest end-of-year capital gains distributions
and annual contribution caps reset on U.S. retirement accounts.
    The following table shows estimated ICI flows for mutual
funds and ETFs (all figures in millions of dollars):
               1/9/2019  1/2      12/26/2018  12/19    12/12
 Equity        11,326    -11,296  -21,079     -10,464  -17,486
    Domestic   6,630     -6,259   -11,747     -2,499   -11,948
    World      4,696     -5,036   -9,332      -7,965   -5,539
 Hybrid        11        -5,421   -8,268      -9,547   -5,495
 Bond          6,300     -14,171  -9,321      -12,534  -12,026
    Taxable    4,350     -14,073  -10,234     -12,013  -12,205
    Municipal  1,950     -98      913         -521     178
 Commodity     711       478      707         390      155
 Total         18,348    -30,410  -37,961     -32,155  -34,853
 
 (Reporting by Trevor Hunnicutt; editing by Steve Orlofsky)
  
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