Equity funds lost most money in six weeks-ICI

By Sam Forgione
NEW YORK, July 11 (Reuters) - Investors in U.S.-based mutual
funds took the most money out of equity funds in six weeks as
euro-zone leaders discussed plans to alleviate the continent's
debt crisis, data from the Investment Company Institute showed
on Wednesday.
Equity funds overall saw net outflows of $2.84 billion in
the week ended July 3, according to estimated data from ICI, a
U.S. mutual fund trade organization. That is the most in net
outflows from equity funds funds since the week ended May 23.
The S&P 500 rose 3.2 percent over the reporting
period after euro-zone leaders agreed to more funding for the
region's struggling banks at a two-day European Union summit in
Brussels.
But investors continued to prefer bond funds during the
week, and committed $3.38 billion in net new money to the funds,
down from the previous week's inflows of $4.32 billion.
Hybrid funds, which can invest in stocks and fixed income
securities, saw inflows of $1.13 billion compared to meager
inflows of $18 million the previous week.
The following table shows a breakdown of ICI flows for the
past five weeks (all figures in the millions of dollars):

6/6/12 6/13/12 6/20/2012 6/27/2012 7/3/2012
Total Equity -1,935 881 -1,520 -1,106 -2,835
Domestic -3,288 -630 -1,847 -1,467 -3,135
World 1,352 1,511 327 361 300
Hybrid* -1,239 968 1,194 18 1,131
Total Bond 1,583 3,501 4,906 4,324 3,382
Taxable 408 2,897 4,046 3,247 2,513
Municipal 1,176 604 860 1,077 870
Total -1,591 5,351 4,579 3,235 1,679
*Hybrid funds can invest in stocks and/or fixed income
securities