FYI: For the first week in three, investors were overall net purchasers of fund assets (including those of conventional funds and ETFs), injecting $21.3 billion for Lipper’s fund-flows week ended December 12, 2018. However, the headline numbers are misleading. Fund investors were net purchasers of money market funds (+$81.2 billion, their largest weekly net inflows on record) while being net redeemers of equity funds (-$46.2 billion, just shy of twice the net redemptions of any other week going back to 1992), taxable fixed income funds (-$13.4 billion), and municipal bond funds (-$317 million). Caveat emptor, several funds went ex-dividend on December 12, paying out capital gains and income distributions for 2018 and possibly causing a temporary one-day decline in total net assets. As a result, we might see a reversal of some of those “record outflows” when the money is reinvested back into the funds on December 13.
Regards,
Ted
http://lipperalpha.financial.thomsonreuters.com/2018/12/u-s-weekly-fundflows-insight-report-mutual-fund-and-etf-investors-remain-risk-averse-during-the-week/?utm_source=Eloqua&utm_medium=email&utm_campaign=00008DL_NewsletterLipperAlphaInsightWeekly&utm_content=Newsletter_FundsWeekly_17Dec2018&elqTrackId=D5AA6B8FC802BAB4153D734B52772809&elq=a5dd2cb83564430ca005b87d48e05604&elqaid=39125&elqat=1&elqCampaignId=165
