Investment Company Institute(ICI) US mutual fund data shows investors injected $6.47 billion into bond funds during the week ended Wednesday November 16, compared to $4.22 billion during the previous week. Slower economic growth in the US and the eurozone crisis have triggered declines in the major stock market indices, including a 3.8% decline in the S&P 500 last week. Concurrently, investors have been moving into safer securities.
Taxable bond funds saw estimated inflows of $5.56 billion during the week ended November 16, while municipal bond funds had estimated inflows of $911 million.
Equity funds had estimated outflows of $1.26 billion for the week ended November 16, compared to estimated outflows of $4.63 billion in the previous week. Domestic equity funds had estimated outflows of $135 million, while estimated outflows from foreign equity funds were $1.13 billion. Hybrid funds, which can invest in stocks and fixed income securities, had estimated outflows of $4.59 billion for the week, compared to estimated inflows of $1.27 billion in the previous week.
Total estimated inflows to long-term mutual funds were $625 million for the week ended November 16, the ICI reported.
(JDC)