U.S. Equity Funds See Biggest Outflow in Six Weeks – Lipper

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.

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)