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U.S. money market funds gain weekly inflow after two weeks of outflows

11/25/2022 | 07:00am EST

Nov 25 (Reuters) - U.S. money market funds attracted significant inflows while equity funds recorded outflows in the week to November 23 amid investor caution ahead of the release of minutes from the Federal Reserve's latest meeting.

The new COVID-19 restrictions in China also increased investor caution.

According to data from Refinitiv Lipper, U.S. money market funds had purchases worth $16.4 billion after two weeks of net selling. Still, equity funds recorded outflows of $8.6 billion after obtaining inflows worth $16.74 billion in the previous week.

Investors exited both U.S. equity growth and value funds, withdrawing $4.58 billion and $3.17 billion, respectively, after being net buyers in each segment in the previous week.

By sector, financials, tech and consumer discretionary lost $533 million, $389 million and $326 million, respectively, although consumer staples and healthcare had inflows of about $500 million each.

Meanwhile, U.S. bond funds posted outflows of $189 million, although that was the smallest weekly net selling in three weeks.

U.S. municipal bond funds had outflows of $632 million after a weekly inflow of $513 billion, while taxable bond funds had $331 million worth of net buying.

Investors disposed of $2.68 billion short/intermediate investment-grade funds, marking the most significant weekly outflow in four weeks. They also withdrew $545 million and $327 million from loan participation and general domestic taxable fixed-income funds.

Meanwhile, U.S. high-yield bond funds secured $2.16 billion investment in a fifth successive week of inflows, while government bond funds received a net $234 million worth of weekly inflows.

(Reporting by Gaurav Dogra and Patturaja Murugaboopathy in Bengaluru;Editing by Elaine Hardcastle)


ę Reuters 2022
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