U.S. Stock Funds Draw 2.2 Billion in Week Lipper


Jan 14 Reuters U.S. equity funds saw inflows of 2.2 billion in the week ended Wednesday, a period when Wall Street indexes hit record highs on optimism that Presidentelect Joe Biden will be able to push more economic stimulus through a Congress controlled by Democrats.

U.S.based taxable bond funds drew 9 billion, the fourth straight weekly inflow, while 5.9 billion flowed into money market funds, Lipper data showed on Thursday.

Other significant allocation milestones included the largest weekly inflow into financialbanking sector funds since 2008. The 3.6 billion that moved into financials was the 11th straight inflow and the third largest in Lippers records dating to 1992, coming as the SP 500 financials index reached record highs.

Energy sector funds drew 2.8 billion, which was the third largest inflow on record, as the SP energy sector index reached its highest level since June.

International equity funds attracted 3.9 billion, the biggest weekly inflow since February 2013, according to Lipper.

Reporting by Alden Bentley; Editing by Leslie Adler and Jonathan Oatis

Source Reuters

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