May 30, 2012 / 9:18 PM / 5 years ago

Stock funds see big outflows in latest week -ICI

NEW YORK, May 30 (Reuters) - U.S. mutual fund investors
pulled the most money out of equity funds since the start of the
year and scaled back bond investments in the latest week as
concerns over the euro zone persisted, data from the Investment
Company Institute showed on Wednesday.	
    Equity funds had estimated net outflows of $7.02 billion in
the week ended May 23, the most since the first week of the year
when investors pulled out $8.77 billion, according to ICI, a
U.S. mutual fund trade organization. 	
    The total loss included outflows of $7.2 billion from
domestic equity funds and a small inflow of $184 million into
foreign equity funds.	
    Bond funds also attracted significantly less money, with net
inflows of $2.79 billion, t he least since inflows of $2.69
billion in the first week of this year.	
    The S&P 500 fell 0.45 percent over the period. Anxiety
over the status of Spanish banks and uncertainty over whether
Greece will remain in the euro dragged on sentiment.	
    Hybrid funds, which can invest in both stocks and fixed-
income securities, had outflows of $695 million, the most since
November of last year and the first outflows in 19 weeks.	
    	
    The following table shows a breakdown of ICI flows for the
past five weeks (all figures in the millions of dollars):	
    	
               4/25/2012  5/2/2012  5/9/12  5/16/2012  5/23/2012
 Total Equity      1,330    -5,305  -1,301     -3,524     -7,015
    Domestic      -1,167    -5,447  -2,341     -3,409     -7,199
    World          2,498       142   1,040       -115        184
 Hybrid*             944        35     627        243       -695
 Total Bond        5,519     7,497   7,591      7,175      2,790
    Taxable        4,699     6,428   6,090      5,933      1,902
    Municipal        820     1,069   1,501      1,242        888
 Total             7,793     2,227   6,917      3,893     -4,920
 *Hybrid funds can invest in stocks and/or fixed income
securities.

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