Staff of Reuters Read for 2 minutes Reuters, July 2 – In the week ending June 30, net inflows into US equity funds continued, with the country’s stock markets hitting new highs on predictions of a faster recovery from the pandemic and a bigger number of vaccinated persons in the US. According to Refinitiv Lipper, U.S. stock funds received a net $4.8 billion inflow last week, the third in a row. Investors are cautious ahead of this week’s critical nonfarm jobs report, thus the amount was lower than the prior week. According to the data, large-cap funds in the United States received a net inflow of roughly $7 billion last week, while mid- and small-cap funds witnessed net outflows. For the second week in a row, outflows from US value funds were recorded, highlighting the shift in investor sentiment following the Federal Reserve’s hawkish stance last month. Earlier this year, investors chose value stocks, spurred by confidence about the economy’s recovery and higher valuations of growth funds following last year’s record run. The largest net inflows into US bond funds in 12 weeks was $11.2 billion, with taxable bond funds attracting $9.4 billion and municipal bond funds attracting $1.9 billion. Investors also bought $2.8 billion worth of US short and intermediate investment-grade funds, the largest inflow in four weeks. Meanwhile, money market funds in the United States saw net withdrawals of $16.8 billion for the fourth week in a row. Gaurav Dogra and Patturaja Murugaboopathy in Bengaluru contributed reporting, and Kirsten Donovan edited the piece./n
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