U.S. equity funds see lowest inflow in seven weeks on virus worries: Lipper

(Reuters) – U.S. equity funds received their lowest inflows in seven weeks in the week ended April 21, pressured by rising coronavirus cases, which have cast doubts over global economic recovery.

FILE PHOTO: A man counts U.S. dollar banknotes at a currency exchange shop in Beirut, Lebanon March 23, 2021. REUTERS/Mohamed Azakir

According to Refinitiv Lipper data, U.S. equity funds took in $878 million in the week, the lowest since the week ended March 3.

For a graphic on Flows into U.S. funds:

U.S. major equity indexes, the &P 500 and Dow Jones Industrial Average have slipped from record high levels, led by a slump in travel-related shares on renewed worries over the pandemic.

Among sector funds, tech and healthcare had outflows of $732 million and $663 million respectively.

On the other hand, the financial sector had inflows of $550 million.

For a graphic on Flows into U.S. sector funds:

U.S. money market funds took in $17.6 billion, after seeing big outflows in the previous two weeks, underscoring investors’ preference for safer assets.

U.S. bond funds also had net purchases of $8.4 billion, resulting in a decline in U.S. Treasury yields.

For a graphic on Flows into U.S. bond funds:

U.S. taxable bond funds had $6.2 billion in inflows, while municipal bond funds had inflows of $1.7 billion.

Source: Read Full Article