US bond funds gain most inflows in 19 weeks-ICI
By Sam Forgione NEW YORK, Aug 22 (Reuters) - Investors in U.S.-based mutual funds pumped the most new money into bond funds in 19 weeks and equity funds lost appeal for the fourth straight week on mixed global economic data, figures from the Investment Company Institute showed on Wednesday. Bond funds attracted estimated net inflows of $7.61 billion in the week ended Aug. 15, the most since early April, said ICI, a U.S. mutual fund trade organization. Equity funds had net outflows of $3.23 billion, recovering somewhat from outflows of $3.68 billion the previous week but still drawing their fourth straight week of outflows. The benchmark S&P 500 rose 0.24 percent over the reporting period after weak economic data from China, Japan, and Europe weighed on markets. Hybrid funds, which can invest in stocks and fixed income securities, attracted $949 million in new money, the most in five weeks and up from $800 million the previous week. The following data show the ICI flows for the past five weeks(all figures in millions of dollars): 7/18/2012 7/25/12 8/1/2012 8/8/2012 8/15/2012 Total Equity 653 -2,991 -6,866 -3,683 -3,227 Domestic 109 -2,121 -5,651 -3,561 -2,671 World 544 -870 -1,215 -122 -556 Hybrid* 900 735 630 800 949 Total Bond 6,460 5,763 5,089 7,200 7,606 Taxable 5,114 4,291 3,959 5,709 6,014 Municipal 1,346 1,472 1,129 1,490 1,592 Total 8,013 3,507 -1,147 4,317 5,327 *Hybrid funds can invest in stocks and/or fixed income securities.
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