GRAPHIC-U.S. equity funds receive big inflows in week to Sept. 1 -Lipper

  • 9/3/2021
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Sept 3 (Reuters) - U.S. equity funds received the largest inflow in 10 weeks in the week ended Sept. 1, as Federal Reserve Chairman Jerome Powell’s dovish remarks at an annual symposium eased investor concerns of a sudden taper of monetary stimulus and reinforced optimism about a resilient recovery. Data from Lipper showed U.S. equity funds lured net inflows of $11.64 billion in the week, the biggest since the week to June 23. Investors cheered Powell’s comments, suggesting that the bank would remain cautious in raising interest rates as it tries to nurse the economy to full employment. U.S. equity large-cap funds secured $8.68 billion in net purchases, which was their largest weekly inflow in over six months. Small-cap funds received $648 million, though mid-cap had marginal outflows. Among equity sector funds, technology funds attracted about $1.3 billion for a second straight week and financials received $781 million, though investors sold $241 million in real state funds after two straight weeks of net purchases. Inflows into U.S. bond funds surged to $9.86 billion, the best in nine months. U.S. municipal bond funds attracted a net $2.12 billion, a 22.7% increase over the previous week, and U.S. taxable bond funds received about $7.97 billion, the largest weekly inflow in nine weeks. U.S. short/intermediate investment-grade funds pulled in a net $2.89 billion, the highest for a week in eight, and U.S. general domestic taxable fixed income funds received $2.32 billion. U.S. government and Treasury fixed income funds had outflows of $336 million, compared with $766 million in inflows in the previous week. U.S. money market funds, however, faced outflows of $17.37 billion, which was the biggest weekly net selling since July 14.

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