BOSTON, (Reuters) – U.S. stock mutual funds saw net cash inflows of $360 million in the week ended Aug. 24 as investors again developed a taste for exchange-traded funds (ETF), AMG Data Services said.
AMG, a fund research firm based… in Arcata, California, reported that stock mutual funds had inflows totaling only $5 million without ETF activity in the last week.
In the week ended on Aug. 17, investors added $936 million, or $580 million excluding ETFs.
In the latest week, non-domestic stock funds again took in the lion’s share of new money, with AMG reporting flows of $596 million, or $489 million excluding ETFs.
Domestic funds, hampered by ongoing worries about rising interest rates and oil prices, reported net cash outflows of $236 million, or outflows of $483 million without ETFs. AMG said this marked the third consecutive week of outflows, which is the first time this has happened since April, 2005.
While investors’ demand for ETFs, liked for being tax efficient and relatively inexpensive, has been mixed in recent weeks, it picked up again in the previous week. AMG said investors sent $236 million to the Select Sector SPDR Financial Fund and $182 million to the iShares S&P 500 Index fund.
AMG includes open-ended, exchange-traded funds in its estimated weekly flow data, but excludes certain funds that do not provide weekly data.
Taxable bond funds also reported net inflows of $454 million as investors put new money into investment grade corporate bond funds, balanced funds and treasury funds.
Fonte: Reuters
