U.S. Stock Funds Attract First Overall Inflows Since April

StocksReuters

Investors charged into domestic stocks during the latest week, delivering U.S.-based stock funds their first inflows since late April, Lipper data showed on Thursday.

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The funds took in $7.8 billion, according to the research service's data, which covers the seven days through July 13. The inflows into stock funds were led by heavy buying of exchange-traded funds and funds focused specifically on domestic stocks, Lipper found.

Pat Keon, research analyst for Thomson Reuters Lipper, said U.S. domiciled funds - including both mutual funds & ETFs - took in $33.5 billion of net new money for the fund-flows week ended July 13.

"This was the largest positive weekly net inflow of the year coming in at over twice that of the $16.6 billion net inflow for the fund-flows week ended January 27, 2016," Keon said. "Of note, equity funds broke a 10-week streak of net outflows by taking in $7.8 billion in net new money and municipal bond funds recorded their 41st straight week of inflows as they grew their coffers by $1.2 billion."

For their part, non-domestic equity mutual funds saw money leave their coffers for the third straight week "as they continue to feel the effects of the Brexit vote," Keon said. "Since the vote, non-domestic equity funds have suffered net outflows of $5.5 billion - including $1.5 billion this week - which has reduced their year-to-date net inflow to $2.5 billion." (Reporting by Trevor Hunnicutt; Editing by Jonathan Oatis and James Dalgleish)