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UPDATE 1-U.S.-based Japanese stock funds add $1 bln over week-Lipper
November 20, 2014 / 10:40 PM / 3 years ago

UPDATE 1-U.S.-based Japanese stock funds add $1 bln over week-Lipper

(Adds byline, comments, table)
    NEW YORK, Nov 20 (Reuters) - Investors in U.S.-based funds
added $1 billion into Japanese equity funds in the week ended
Nov. 19, posting a fourth straight week of net inflows, data
from Thomson Reuters' Lipper service showed on Thursday.
    The flows marked the longest streak of net new cash to such
funds since the start of the year.
    The new money came in the same week that Prime Minister
Shinzo Abe said he would delay a planned sales tax hike, after
the world's third-biggest economy unexpectedly slipped back into
recession in the third quarter. 
    In addition, the Bank of Japan continues to buy government
bonds and risky assets to support the economy. 
    "Some folks are very bullish on Japanese equities in
general," said Barry Fennell, a senior analyst with Lipper.
    While the long-term prospects for that country's economy
remain in doubt, he said, "there are definitely winners in he
short term, and Japanese equities seem to be them."
    The Nikkei stock index gained 0.53 percent from its
close on Nov. 12 through Nov. 19. The yen also weakened
in the same period, to 117.97 against the dollar from 115.47 on
Nov. 12.
    Stock funds overall attracted $571 million in new cash.
Stock mutual funds posted $122 million of inflows, while stock
exchange-traded funds attracted $449 million in new cash.
    Taxable bond funds attracted inflows of $1.5 billion, for
their ninth straight week of inflows.
    Money market funds attracted $7.8 billion of inflows for the
week. 
    The weekly 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 Funds          0.571     0.01      5,081.382  11,305
 Domestic Equities         -0.519    -0.01     3,669.249  8,140
 Non-Domestic Equities     1.091     0.08      1,412.133  3,165
 All Taxable Bond Funds    1.523     0.07      2,254.505  5,864
 All Money Market Funds    7.797     0.33      2,347.787  1,296
 All Municipal Bond Funds  0.590     0.18      333.683    1,472
 
 (Reporting by Luciana Lopez; Editing by James Dalgleish)

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