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U.S. fund investors hesitant on domestic stocks -ICI
2017年9月13日 / 下午5点32分 / 2 个月前

U.S. fund investors hesitant on domestic stocks -ICI

    By Trevor Hunnicutt
    NEW YORK, Sept 13 (Reuters) - International stocks and
taxable bonds raked in cash for the 40th week in a row as
investors tiptoed away from the domestic equity market,
Investment Company Institute (ICI) data for U.S.-based funds
showed on Wednesday.
    Taxable bond mutual funds and exchange-traded funds
attracted $5.9 billion, and world stock funds pulled in another
$2.7 billion, the trade group said.
    The data reflects activity in the week ended Sept 6, after
North Korea's largest ever nuclear bomb test and U.S. investors
were shaken by Hurricanes Irma and Harvey. Stocks have gained in
the days since as those concerns ebbed.
    "With the uncertainty tied to the impact of hurricanes and
geopolitical risks tied to North Korea, investors have continued
to favor the relative stability of investment-grade bond funds,"
said Todd Rosenbluth, director of ETF and mutual fund research
at CFRA.
    The demand for bonds comes even as prominent investors
warned about the safety of debt markets. Hedge fund manager Leon
Cooperman on Tuesday said it looks like bonds are in a bubble.
Closely watched investor Jeffrey Gundlach, also on Tuesday, said
he was not optimistic about how bonds will fair in the next
recession.
    Domestic stock flows dipped during the most recent week,
with withdrawals nearing $3 billion, compared to $3.7 billion in
inflows the week before.
    An MSCI Inc gauge of U.S. stocks
trails the 21.3 percent return of 46 other top markets
 by more than 8 percentage points this year.
    "The relative strength of international equities has likely
contributed to continued demand," said Rosenbluth.
    The following table shows estimated ICI flows for mutual
funds and exchange-traded funds (all figures in millions of
dollars):
                9/6    8/30    8/23     8/16   8/9/2017
 Equity        -229   8,191  -1,808   -9,170      1,881
 -Domestic   -2,937   3,684  -4,687  -11,276     -2,758
 -World       2,709   4,507   2,880    2,106      4,638
 Hybrid      -1,184    -928  -1,066   -1,771       -339
 Bond         6,459   5,354   5,314    4,827      9,012
 -Taxable     5,932   4,601   4,073    3,820      7,877
 -Municipal     527     753   1,240    1,007      1,135
 Commodity      980     982     604      881       -144
 Total        6,026  13,599   3,044   -5,232     10,409
 
 (Reporting by Trevor Hunnicutt; Editing by Jonathan Oatis)
  

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