Investors Offload US Equity Funds in Biggest Weekly Net Selling Since March 29
Investors offloaded US equity funds worth a net $16.47 billion in their biggest weekly net selling since March 29. This came after buying into funds worth $19.7 billion just a week ago. All sizes of US equity funds recorded outflows: large caps lost $7.54 billion, small caps shed $2.63 billion, multi caps gave up $1.04 billion, and mid caps dropped $138 million.
Sectorwise Outflows and Inflows
Healthcare, industrials, and tech sectors experienced the largest outflows at $906 million, $199 million, and $158 million, respectively. Financials, on the other hand, still attracted $933 million worth of net purchases.
US Investors Remain Net Buyers of Bond Funds
For the second consecutive week, US investors remained net buyers of bond funds, with net purchases of about $2.58 billion. They piled into US government and general domestic taxable fixed-income funds, with a net $1.21 billion and $1.03 billion in purchases, respectively. Inflation-protected funds saw an exit of about $603 million in a 10th straight week of net selling.
US Money Market Funds Record Outflows
US money market funds recorded $21.14 billion worth of outflows in a second consecutive week of net selling.