According to the latest Lipper data released on late-Thursday, Investors in the US-based equity funds pulled $20 billion of cash in the week ended June 27, the largest outflows since February, Reuters reports.
Key Highlights:
“Investors’ lack of risk-taking was also displayed in the credit markets. U.S.-based high-yield bonds, which move in sympathy with equities, posted $1.1 billion of cash withdrawals in the week ended June 27, in a second consecutive week of outflows, Lipper said.
U.S.-based equity mutual funds posted $8 billion of outflows in the week and U.S.-based equity exchange-traded funds posted $12 billion of cash withdrawals for the same period.
Investors sought shelter in higher-quality bond funds, including money market, Treasury and investment-grade corporate bond funds. U.S.-based money market funds attracted more than $18 billion of new cash for the week, following two weeks of withdrawals
U.S.-based government-Treasury bond funds attracted $781 million, their fourth consecutive week of inflows, according to Lipper data. U.S.-based corporate investment-grade bond funds attract $1.5 billion of new cash for week, extending weekly inflow streak since February.”
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