Equity mutual fund investors added $1.5 billion while equity exchange-traded fund investors added $3.2 billion into their respective funds of choice for the week ended June 19, according to data from Lipper.
Popular names such as SPY (+$2.4 billion) and Consumer Staples SPDR (XLP, +$535 million) were on the receiving end of investors’ cash while the Lipper categories of Large-Cap Growth Funds (-$340 million) and International Multi-Cap Growth Funds (-$263 million) were on the losing end, according to Jeff Tjornehoj Head of Americas Research, Lipper.
Also on the losing end, combined ETF and mutual fund outflows from taxable bond funds were just over half a billion dollars for the week. “High-yield funds could not stanch their bleeding as investors removed a net $333 million from that area,” wrote Tjornehoj.
“Loan participation mutual fund strategies remained front and center for flows; they attracted a net $1.4 billion for the week. Municipal debt funds had outflows of $2.2 billion, their eighth largest weekly outflows on record. Money market mutual funds suffered $22.2 billion in outflows (about 1% of the industry assets) as institutions withdrew a net $26.1 billion while retail investors added about $4 billion to their cash accounts.”