Investors pumped in $6.3 billion into mutual funds and exchange-traded funds for the week ended July 25, according to data from Lipper.
However, the skittishness of the equity market resulted in $11.3 billion in net redemptions for equity funds, while money market funds (+$13.7 billion), taxable bond funds (+$3.1 billion), and municipal bond funds (+$0.8 billion) all experienced net inflows.
And for the second week in three, equity ETFs suffered net redemptions handing back some $9.2 billion for the week (their largest net redemption since November 23, 2011) ending July 25, according to Tom Roseen, head of research services at Lipper.
Specifically, the SPDR S&P 500 ETF saw the largest outflows of the group (-$6.0 billion, its largest weekly outflow this year) and iShares Russell 2000 Index experienced the next largest outflows (-$1.2 billion).
On a positive note, dividend paying mutual funds posted gains, with equity income funds attracting $233 million and real estate funds taking in $103 million. “Despite declining yields and ignoring the quasi-flight to safety toward week end, open-end fund investors injected $1.4 billion into corporate high-yield debt funds and $911 million into corporate investment-grade debt funds,” said Roseen.