Long-term mutual funds continued to post net inflows. ICI data show estimated net inflows of $8.93 billion in the latest week, lengthening the streak to 33.
The Wall Street Journal
also picked up on the numbers.
Equity funds, which had estimated inflows of $1.93 billion in the previous week, underwent a reversal of fortunes with figures showing estimated outflows of $1.47 billion this week. Domestic equity funds saw outflows of $2.56 billion, while foreign equity funds' had estimated inflows of $1.09 billion.
Hybrid and bond funds experienced gains that offset outflows in equity funds. Hybrid fund inflows were slightly more tempered this week with estimated inflows of $239 million compared to inflows of $979 million in the previous week. In the bond fund space, estimated inflows were at $10.16 billion, dipping from last week's inflows of $11.18 billion, with taxable bond funds having inflows of $8.85 billion and municipal bond fund inflows totaling $1.31 billion.
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