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February 14, 2011 at 09:49 AM
Municipal bonds fell for the 13th consecutive week, Reuters reported Thursday. Outflows reached $1.2 billion in the week ending Feb. 9, compared with $1.1 billion in the prior period. Net outflows since mid-November are at $21.67 billion.
Exchange-traded equity funds suffered their third week of outflows, with $2.07 billion for the week ending Feb. 9. The SPDR S&P 500 ETF had the biggest outflow of the week with redemptions over $3.2 billion, according to Reuters.
"More proof of investors taking an active role in the equity market is the fact that conventional funds took in cash ($4.6 billion) for a 17th week out of the last 18 whereas ETF equity funds had net redemptions of $2.1 billion," Tom Roseen, senior analyst at Lipper, told Reuters.
Emerging market equity funds suffered as well, although the decline was "significantly less than last week's record outflow," according to Reuters. Following a record $4.1 billion in net redemptions in the prior period, in the week ending Feb. 9 emerging market equity funds including ETFs had outflows of $705 million. Without ETFs, actively managed emerging market funds took in $171 million.
