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U.S. bond funds attract $12.4 bln in week ended Oct. 4 -ICI
October 11, 2017 / 9:52 PM / 2 months ago

U.S. bond funds attract $12.4 bln in week ended Oct. 4 -ICI

    NEW YORK, Oct 11 (Reuters) - Investors' insatiable appetite
for yield showed no letup in the week ended Oct. 4, with about
$12.4 billion in net new cash flowing into U.S. bond funds,
nearly double the amount the previous week, Investment Company
Institute (ICI) data showed on Wednesday. 
    Bond funds posted an estimated inflow of $12.4 billion for
the latest week, compared with estimated inflow of $6.69 billion
during the previous week. Taxable bond funds saw estimated
inflows of $12.13 billion, and municipal bond funds had
estimated inflows of $263 million, the trade group said.
    In comparison, equity funds had estimated outflows of $3.52
billion for the week, compared with estimated outflows of $6.79
billion in the previous week. Domestic equity funds had
estimated outflows of $5.93 billion, and world equity funds had
estimated inflows of $2.41 billion.
    "We've been attracting flows because of our consistent
returns and performance relative to other funds - and investors
need income more than ever," said Scott Minerd, Guggenheim
Investments' global chief investment officer.
    In fact, Guggenheim's flagship Total Return Bond Fund, an $8
billion intermediate-term fund that has outperformed 98 percent
of its rivals over three and five years, according to
Morningstar, had net inflows of $219 million in September and
has experienced positive flows for 45 consecutive months,
Guggenheim said.
    For their part, commodity funds - which are ETFs that invest
primarily in commodities, currencies, and futures - had
estimated outflows of $357 million for the week, compared with
estimated inflows of $861 million in the previous week.
    The following table shows estimated ICI flows for mutual
funds and ETFs (all figures in millions of dollars):
                 10/4/17   9/27/17   9/20/17  9/13/17    9/6/17
 Equity           -3,519    -6,792     1,006    5,003      -231
    Domestic      -5,931    -9,353    -2,137    2,096    -2,937
    World          2,413     2,561     3,143    2,907     2,707
 Hybrid           -1,295    -1,077       901     -903    -1,186
 Bond             12,397     6,690    11,083    9,538     6,442
    Taxable       12,134     5,947    10,171    8,630     5,915
    Municipal        263       743       911      908       527
 Commodity          -357       861      -134      125       980
 Total             7,227      -317    12,856   13,763     6,006
 
 (Reporting by Jennifer Ablan; Editing by Lisa Shumaker)
  

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