Reuters: Money: Equity funds lose most since start of the year: ICI

Reuters: Money Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Equity funds lose most since start of the year: ICI Apr 4th 2012, 20:33 By Sam Forgione NEW YORK | Wed Apr 4, 2012 4:33pm EDT NEW YORK (Reuters) - U.S. mutual fund investors withdrew the most money from equity funds since the start of the year while remaining in bond funds during a choppy week for the U.S. stock market, data from the Investment Company Institute showed on Wednesday. Equity funds had an estimated $4.43 billion in net redemptions in the week ended March 28, the most since $8.77 billion in redemptions in the week ended January 4, according to ICI, a U.S. mutual fund trade organization. The previous week also saw net redemptions from equity funds, estimated at $1.08 billion. Bond funds pushed ahead with $6.12 billion in inflows, up from the previous week's inflows of $5.66 billion. These bond funds attracted a total of over $26 billion in the previous three weeks, as investors' search for higher yields shows no signs of abating. The S&P 500 rose a slight 0.19 percent over the reporting period to close the first quarter on a quiet note. Manufacturing data on the euro-zone, China, and the U.S. concerned investors about the strength of the fragile global recovery during the week. Hybrid funds, which can invest in stocks and fixed-income securities, had their 12th week of inflows with $1.65 billion in new money, down slightly from $1.82 billion the previous week. The following table shows a breakdown of the ICI flows for the past five weeks (all figures in the millions of dollars): Estimated flows to long-term mutual funds: 2/29/2012 3/7/2012 3/14/12 3/21/2012 3/28/2012 Total Equity -2,883 -236 -2,582 -1,084 -4,434 Domestic -3,111 -1,385 -2,889 -1,794 -3,528 Foreign 227 1,149 307 710 -906 Hybrid* 1,650 1,478 1,239 1,817 1,654 Total Bond 6,607 10,744 9,096 5,663 6,124 Taxable 5,479 9,087 7,772 5,798 5,468 Municipal 1,128 1,656 1,324 -135 656 Total 5,374 11,985 7,753 6,396 3,344 *Hybrid funds can invest in stocks and/or fixed income securities. (Reporting by Sam Forgione; Editing by Diane Craft) Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions