September 19, 2018 / 9:31 PM / 3 months ago

U.S. mutual fund, ETF investors dump domestic stocks as trade talks intensify -ICI

    NEW YORK, Sept 19 (Reuters) - U.S. mutual fund and
exchange-traded fund (ETF) investors pulled money out of
domestic stocks for a third consecutive week as a new round of
trade talks intensified, Investment Company Institute (ICI) data
showed on Wednesday.
    Mutual fund and ETF investors yanked more than $3.8 billion
from domestic stock funds during the week ended Sept. 12, while
U.S. taxable bond mutual and exchange-traded funds attracted
over $7 billion, the trade group said.
    During the latest reporting week, the Trump administration
reached out to China for a new round of trade talks as it
prepared to activate punitive U.S. tariffs on $200 billion worth
of Chinese goods.
    Investors have fled into U.S. taxable bond mutual funds and
ETFs for much of 2018 as trade talks, interest-rate hikes and
lofty equity prices have resulted in funds being invested in
safer Treasury and high-quality investment-grade securities.
    Commodity funds, including those invested in gold, recorded
$57 million in withdrawals. It is the seventh week of outflows
for those products and comes as a rising dollar this year
has hurt demand for gold, which is priced in dollars.
    The following table shows estimated ICI flows for mutual
funds and ETFs (all figures in millions of dollars): 
    
                      9/12       9/5     8/29     8/22     8/15
 Equity             -3,371    -5,551     -570    3,028      778
      Domestic      -3,830    -7,011     -413    1,415       11
      World            459     1,461     -158    1,613      767
 Hybrid             -1,691    -1,762   -1,362   -1,485   -1,475
 Bond                7,206     3,519    4,414    4,597    1,675
      Taxable        7,177     3,515    4,141    4,066    1,013
      Municipal         30         4      273      531      662
 Commodity             -57      -411     -388     -532     -674
 Total               2,088    -4,204    2,094    5,607      305
 
 (Reporting by Jennifer Ablan and Trevor Hunnicutt
Editing by James Dalgleish)
  
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