Equity funds lost most money in six weeks-ICI

Thu Jul 12, 2012 2:56am IST

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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
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