In with mutual funds and out with ETFs. That's the direction new cash flowed during the week that ended Wednesday, with investors in U.S.-based stock funds pouring net new cash into mutual funds and pulling it out from exchange-traded funds over the same period, according to data from Thomson Reuters' Lipper service.
Mutual fund investors put $1.06 billion in new cash to work in stock funds through the week that ended Oct. 22 , vs the $9.23 billion investors yanked from ETFs.
As Reuters reports:
The data underscore a pattern for much of the year in which retail investors, commonly thought to be mutual fund buyers, behave differently from institutional investors, as represented by exchange-traded funds."The equity mutual funds were positive while the equity ETFs were significantly negative," said Barry Fennell , a senior analyst with Lipper. Those ETF investors might have been "a little skittish about what way corporate earnings might be going," he added.
Here are a few details gleaned from the data:
-- U.S.-based European stock funds posted net outflows of $958 million after
record outflows during the previous week.
-- Loan participation funds recorded net outflows of $1.7 billion , the
largest of such outflows since August 2011 .
-- Corporate high-yield bond funds saw net inflows of $1.7 billion (for more
on that read this blog post from my colleague Mike Aneiro ).
-- Taxable bond funds posted net inflows of $6.2 billion .
AI
