November 24, 2017 / 11:09 PM / a year ago

U.S.-based stock ETFs attract $9.4 bln of inflows in latest week -Lipper

NEW YORK, Nov 24 (Reuters) - Investors poured $9.4 billion into U.S.-based stock ETFs in the week ended Wednesday, the group’s eighth consecutive week of inflows, against the backdrop of record closing highs on major markets, Lipper data showed on Friday.

Risk-taking was also on display in parts of the U.S. corporate credit markets. U.S.-based investment-grade corporate bond funds attracted $2.6 billion of inflows in the latest week, their 10th consecutive week of inflows, Lipper said.

At the lower end of the credit-quality spectrum, junk bonds were avoided again by investors.

U.S.-based high-yield bond funds posted $209 million of outflows in the week ended Wednesday. Retail investors also yanked money out of U.S.-based stock mutual funds, pulling $3.5 billion in the week.

ETFs are generally believed to represent the investment behavior of institutional investors including hedge funds, while mutual funds are thought to represent the mom-and-pop retail investor.

U.S.-based money market funds attracted $14.4 billion of inflows in the latest week, their third straight week of inflows, Lipper said. (Reporting by Jennifer Ablan; Editing by James Dalgleish)

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