Most cash since 2008 flows out of U.S. equity funds in June: Lipper
by Trevor Hunnicutt
U.S.-based stock mutual funds and exchange-traded funds (ETFs) recorded $36.3 billion in withdrawals overall for the month of June, representing the largest withdrawals since October 2008.
The data also showed the funds have posted five straight weeks of withdrawals as the Trump administration’s tariffs on $34 billion of Chinese imports are due to go into effect on Friday.
During the most recent, holiday-shortened week, $8.3 billion moved out of U.S.-based equity funds and high-yield bond funds shed $1.7 billion, Lipper said. U.S. markets were closed on July 4 for the U.S. Independence Day holiday.
Investors piled into safer, higher-quality investments, which included U.S.-based government-Treasury bond funds. That group attracted $980 million of net new cash for the week ended Wednesday, their fifth straight week of inflows, Lipper said.
Source: Reuters
https://www.reuters.com/article/us-inve ... nalFinance