Equity mutual fund investors pulled $1.3 billion from their accounts (their fifth straight week of outflows), while equity ETF investors made a U-turn from the previous week's withdrawal numbers and added a $12.1 billion to their accounts for the week ended Sept. 12.
On the ETF front, SPY, IWM, and QQQ were the week's biggest winners; raking in over $6.1 billion, while taxable bond mutual funds were the recipients of $4 billion, according to Jeff Tjornehoj, Head of Americas Research Lipper. Over $300 million poured into Federated's High Yield Bond fund-the group's top beneficiary.
Meanwhile, municipal debt funds accumulated $760 million in net flows for their twenty-second consecutive week of inflows, and money market funds took in $6.2 billion. Institutional money market fund investors added $6.5 billion, while retail investors withdrew $300 million.