By Sam Forgione
NEW YORK (Reuters) – Investors in U.S.-based funds poured $3.7 billion into stock funds in the week ended May 13, marking a recovery from the prior week’s $14.8 billion in outflows, data from Thomson Reuters’ Lipper service showed on Thursday.
Funds that specialize in U.S. shares attracted $2.4 billion, their first inflows in seven weeks. Emerging markets stock funds attracted their eighth straight week of inflows, at $396 million.
U.S.-based non-domestic-focused stock funds posted $1.3 billion of inflows, their 14th straight week of net new cash, according to Lipper data.
“One explanation is that since 2008 investors have done more to diversify their equity holdings by looking beyond our shores,” said Jeff Tjornehoj, head of Lipper Americas Research.
Taxable bond funds attracted $2.7 billion in new cash after investors pulled $3 billion from the funds the prior week. Within that category, high-yield junk bonds suffered $89 million of outflows, their fourth straight week of outflows, Lipper said. International and global debt funds attracted $457 million to mark their first inflows in three weeks.
U.S.-based emerging markets debt funds attracted $306 million of inflows, the sector’s third straight week of inflows, Lipper added.
All told, U.S.-based money market funds posted $5 billion of outflows after $4.7 billion of inflows the prior week.
(Reporting by Sam Forgione; Editing by Jonathan Oatis)