December 25, 2015 / 12:05 AM / 2 years ago

UPDATE 1-U.S. foreign stock fund outflows hit record after Fed hike -Lipper

(Adds data on mutual funds and ETFs)
    By Trevor Hunnicutt
    NEW YORK, Dec 24 (Reuters) - U.S.-based funds that invest in
foreign stocks posted their largest outflows on record in the
week ended Dec. 23, Lipper data showed on Thursday, as mutual
fund investors trimmed risk following a U.S. Federal Reserve
interest rate hike.
    Investors took $10 billion out of "non-domestic" stock funds
sold in the United States, especially mutual funds rather than
exchange traded funds. That was the largest combined outflow
recorded for both types of funds, according to Lipper statistics
that date to 1992.
    The foreign fund outflows contributed to a record $16.2
billion in outflows for U.S.-based stock and taxable-bond funds 
for the week, according to Lipper.
    Mutual fund investors took money out of stock and
taxable-bond funds, while exchange-traded fund investors added
new cash to both types of funds.
    The flight of money came after the U.S. central bank hiked 
rates, from near-zero, for the first time in nearly a decade on 
Dec. 16, signaling faith in the U.S. economy. 
    Emerging markets stock funds posted $613 million of
outflows, their eighth straight week of cash withdrawals, on
persistent fears about the ability of those countries to weather
stock outflows.
    Japanese stock funds posted $1.3 billion of outflows, though
the outflows may be seasonal, nearly matching the $1.5 billion
in outflows from the comparable period a year ago.
    Domestic stock funds recorded $2.4 billion in new cash,
rebounding after three weeks of outflows, as fears of a rout in
energy prices weighed less on equity markets.
    Low-risk money-market funds in the United States posted $3.6
billion in outflows during the week.
    The Lipper fund flow data is compiled from reports issued by
U.S.-domiciled mutual funds and exchange-traded funds.
    The following is a broad breakdown of the flows for the
week, including exchange-traded funds (in $ billions):
 Sector         Flow Chg  % Assets  Assets     Count
                ($Bil)              ($Bil)     
 All Equity     -7.584    -0.15     5,135.126  11,894
 Funds                                         
 Domestic       2.446     0.07      3,628.599  8,477
 Equities                                      
 Non-Domestic   -10.030   -0.67     1,506.528  3,417
 Equities                                      
 All Taxable    -8.653    -0.40     2,153.762  6,097
 Bond Funds                                    
 All Money      -3.644    -0.16     2,290.367  1,141
 Market Funds                                  
 All Municipal  0.809     0.23      357.371    1,502
 Bond Funds                                    
 
 (Reporting by Trevor Hunnicutt; Editing by Chris Reese and
Richard Chang)

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