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GRAPHIC-US equity funds see first weekly outflow in six weeks
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GRAPHIC-US equity funds see first weekly outflow in six weeks
Apr 5, 2024 6:25 AM

April 5 (Reuters) - U.S. investors pulled back from

equity funds in the week ending April 3, marking an end to a

five-week buying streak, prompted by concerns over Federal

Reserve's interest rate cuts following recent robust

manufacturing and labour market data.

According to LSEG data, investors liquidated a net $3.28

billion worth of U.S. equity funds in their first weekly net

selling since Feb. 21.

They withdrew a net $2.63 billion out of U.S. large-cap

funds, ending a five-weeks-long buying trend. U.S. multi-,

small-, and mid-cap funds also witnessed disposals, amounting to

$1.19 billion, $215 million and $118 million, respectively.

The healthcare, consumer staples, and utilities sectors

logged a net $543 million, $219 million and $215 million worth

of outflow during the week. Conversely, communication services,

and metals & mining sectors saw $339 million and $269 million

worth of net accumulation.

In the debt funds market, investors extended purchases into

a second successive week as they accumulated about $7.24 billion

worth of U.S. bond funds.

U.S. short/intermediate investment-grade funds gained a

significant $4.57 billion during the week, the highest since

Feb. 7.

U.S. general domestic taxable fixed income, loan

participation, and short/intermediate government & treasury

funds meanwhile, secured $1.85 billion, $689 million and $313

million, respectively in inflows.

Money market funds, meanwhile received a sharp $70.01

billion during the week, the most in a week since Jan. 3.

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