December 7, 2017 / 11:47 PM / a year ago

UPDATE 1-U.S.-based stock ETFs attract $14.6 bln of inflows, largest since June -Lipper

 (Adds quotes from senior research analyst)
    By Jennifer Ablan
    NEW YORK, Dec 7 (Reuters) - U.S.-based stock ETFs attracted
$14.6 billion of inflows in the week ended Wednesday, their 10th
consecutive week of inflows and the largest since June,
illustrating investors' appetite for low-cost exposure to
record-high stock markets. 
    Risk appetite was also reflected in high-quality bonds.
U.S.-based investment-grade corporate bond funds attracted $622
million of inflows in the week ended Wednesday, their 12th
straight week of inflows, Lipper data showed on Thursday.
    "The equity ETF and taxable bond fund results I would
describe as business as usual," said Pat Keon, senior research
analyst at Thomson Reuters Lipper. 
    Equity ETFs have had 10 straight weeks of net inflows and
are on pace for their largest annual net inflows ever, Keon
noted. "Taxable bond funds have also been strong all year and
most likely will finish with 2nd highest annual net inflow."
    U.S.-based money markets took in more than $2 billion in the
week ended Wednesday - a much lower level than the previous week
of $33 billion, "suggesting that investors were putting money to
work. Also, we saw money leave muni bond funds - about $935
million - a safe haven."
    "The muni outflows were spread across several peer groups
and numerous funds, indicating it was more sector wide than fund
specific," Keon said.
    U.S.-based high-yield "junk" bond funds posted inflows of
$191 million in the week ended Wednesday, the group's second
consecutive week of inflows, Lipper said. Additionally,
U.S.-based financial and banking funds attracted $1.85 billion
of inflows in the latest week, their third consecutive week of
inflows, according to Lipper data.
    The following is a breakdown of the flows for the week,
including mutual funds and ETFs:
 Sector                  Flow Chg    %       Assets       Count
                         ($Bil)      Assets  ($Bil)       
 All Equity Funds        2.980       0.04    6,618.788    12,126
 Domestic Equities       4.142       0.09    4,553.356    8,663
 Non-Domestic Equities   -1.163      -0.06   2,065.432    3,463
 All Taxable Bond Funds  0.547       0.02    2,614.169    6,046
 All Money Market Funds  2.032       0.08    2,655.538    1,031
 All Municipal Bond      -0.807      -0.20   402.875      1,477
 (Reporting by Jennifer Ablan; Editing by James Dalgleish)
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