July 17 (Reuters) - U.S. equity funds recorded outflows in
the week through July 15, as a selloff in chip stocks and rising
U.S.-Iran tensions, outweighed strong corporate earnings and
cooler inflation readings.
They sold U.S. equity funds of a net $4.8 billion logging
their first weekly net disposal in three weeks, LSEG Lipper data
showed.
Chip stocks came under pressure after rallying about 87.75%
in the previous quarter. The Philadelphia SE Semiconductor Index
has fallen roughly 8.48% so far this week, with SanDisk ( SNDK )
, Marvell Technology ( MRVL ) and Intel ( INTC )
dropping 26.35%, 20.15% and 11.71%, respectively.
Investors sold a net $7.18 billion in growth funds,
reversing $4.23 billion in net purchases the previous week.
Value funds, meanwhile, attracted inflows for a third
consecutive week, drawing $3 billion.
Among sector funds, technology inflows cooled to a
three-week low of $1.57 billion. Healthcare funds attracted a
net $465 million, while investors withdrew about $579 million
from consumer discretionary funds and $409 million from
communication services funds.
U.S. bond funds remained popular for a 13th straight week,
attracting $9.89 billion in inflows.
Investors bought $2.38 billion of short-to-intermediate
investment-grade funds, $1.47 billion of short-to-intermediate
government and Treasury funds, and $1.36 billion of municipal
debt funds.
U.S. money market funds, meanwhile, saw $68.03 billion in
outflows, the largest weekly withdrawal since April 15.