"Investors poured $31.6 billion (19.3 billion pounds) into all equity mutual funds and exchange-traded funds in November, favoring equities over bonds for a sixth straight month, data from TrimTabs Investment Research showed on Sunday.
However, flows into equities moderated from October, with flows into exchange traded funds picking up, and investors favored U.S. equity funds over offshore funds.
"Equity fund flows shifted in two key ways last month," said TrimTabs chief executive David Santschi. "First, inflows were not as strong as they were in October, when all equity mutual funds and ETFs received $53.2 billion, the fourth-highest monthly inflow on record. Second, they were not skewed heavily toward offshore stocks.
The average U.S. equity fund gained 5.8 percent over the period, beating the average global equity fund, which gained 2.4 percent in the past two months.
U.S. equity funds and exchange-traded funds attracted $17.5 billion, compared to $14.1 billion that flowed into global equity mutual funds and ETFs.
Investors kept dumping bonds, redeeming $21.8 billion from bond mutual funds and ETFs, the biggest outflow since $36.8 billion in August and the fifth-highest monthly outflow on record. Four of the six biggest monthly outflows from bond funds have happened this year, TrimTabs noted.
The S&P 500 is up 27 percent so far this year. TrimTabs said indicators point to a rise in equity markets to the end of the year".
Source: Reuters
