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Блог им. Dars

инвесторы выводят средства из фондов американских акций

Investors left U.S. equity funds as the Dow hit record highs November 8, 2013, 10:58 AM Investors were pulling out U.S. equity funds this week as the Dow Jones Industrial Average DJIA +0.52% was hitting a peak. U.S. equity funds had $7.5 billion of withdrawals in the week ended Wednesday, according to Bank of America Merrill Lynch Global Research. Wednesday was also the day that the Dow topped its prior record high and the S&P 500 index SPX +0.72% nearly did the same. Admittedly, most of the outflows came from exchange-traded funds. Slightly different data from Lipper during the same time period points out that equity mutual funds, excluding ETFs, took in $3 billion, though a $5 billion exodus from ETFs led to the net withdrawals. “Equity ETF investors generally are historically more reactive to impending economic news and may have retreated from the asset class in anticipation of the release of upcoming indicators,” said Barry Fennell of Lipper, in a note. In particular, a GDP report on Thursday and jobs report on Friday were on tap this week. The biggest ETF losers were SPDR S&P 500 ETF Trust SPY +0.69%, iShares Russell 2000 ETF IWM +1.35%, and ProShares Ultra Russell2000 UWM +2.79%, according to the Merrill Lynch data. If you are thinking all of this data may signal that’s time to sell, you aren’t alone. Merrill Lynch strategists Michael Hartnett and Brian Leung write that with another $8 to $10 billion in inflows to long-only mutual funds, their trading rules would trigger a sell signal. “Our Bull & Bear Index [is] also on track to give cautionary risk-off signal in mid-November.” That risk-off signal resounded through the bond market as well. Bond funds as a whole took in $1.7 billion this week, their largest inflows in six weeks. Those inflows went to high-grade corporate funds and government bond funds, while investors pulled from riskier high-yield bond funds.
 


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