U.S. Equity Funds See Biggest Outflow in Six Weeks – Lipper(Reuters) – U.S. equity funds recorded a large net outflow in the week to July 21, as rising COVID-19 infections caused by the Delta variant of the coronavirus revived fears of renewed shutdowns and an economic slowdown.
According to Refinitiv Lipper data, investors sold a net $10.4 billion in U.S. equity funds in the week, the most in six weeks.
The United States is seeing large COVID-19 outbreaks in parts of the country with low vaccination rates, leading to a surge in hospitalizations and deaths in recent weeks.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Financial sector funds saw net selling of $2.4 billion, while other cyclical sectors such as industrials and mining funds also posted outflows.
Tech sector funds drew in $1.6 billion, the biggest weekly net inflow in five months.
Investors bought U.S. government and municipal funds worth a net $3.1 billion in the week.
On the other hand, U.S high-yield bond funds saw outflows of $1 billion.
U.S. money market funds received a net $4.64 billion, after six straight weeks of inflows.
For a look at all of today’s economic events, check out our economic calendar.
(Reporting by Gaurav Dogra and Patturaja Murugaboopathy in Bengaluru; Editing by Kirsten Donovan)