Investors continued to withdraw from U.S. equity funds for a 12th straight week in the seven days to Feb. 8 as a report showing robust U.S. job additions in the last month fed fears that the U.S. Federal Reserve would keep raising interest rates this year.
Refinitiv Lipper data showed investors exited a net $474 million worth of U.S. equity funds after disposing of $473 million worth of funds in the previous week.
GRAPHIC: Fund flows: US equities, bonds and money market funds. U.S. large- and mid-cap equity funds saw outflows of $3.82 billion and $675 million, respectively, but investors purchased $2.16 billion worth of small-cap funds.
However, investors accumulated some sector-specific funds, with financials and tech witnessing inflows of $1.22 billion and $430 million, respectively. Meanwhile, U.S. bond funds continued to obtain inflows for the fifth week, amounting to a net $2.39 billion.
U.S. general domestic taxable fixed income funds obtained $678 million, while short/intermediate investment-grade funds received $1.98 billion, marking a fifth weekly inflow. But investors drew $2.26 billion out of government bond funds.
