$11.2 Billion Redeemed Last Week By Equity Mutual Funds

TrimTabs is out with the latest mutual fund flows for the week ended April 1. The research company estimates that the past week saw $11.2 billion in outflows among the equity mutual fund community, which doesn't jive too well with all the rampant speculation about vanilla money running head over heels to throw their money into the rally. TrimTabs estimates the prior week inflow to $1.7 billion, implying a new swing of over $12.5 billion WoW.

Equity funds that invest primarily in U.S. stocks posted an outflow of $8.5 billion, versus a revised inflow of $2.3 billion in the previous week. Equity funds that invest primarily in non-U.S. stocks had an outflow of $2.8 billion, versus a revised outflow of $557 million in the previous week. In addition, bond funds had an inflow of $2.9 billion, versus a revised inflow of $7.1 billion in the previous week, and hybrid funds had an inflow of $810 million, versus a revised inflow of $451 million in the previous week.

Separately, TrimTabs reports that exchange-traded funds (ETFs) that invest in U.S. stocks posted an outflow of $1.4 billion, versus an outflow of $5.0 billion in the previous week. ETFs that invest in non-U.S. stocks had an inflow of $502 million, versus an inflow of $1.6 billion in the previous week.

Comments

[Seth Davis]

Without institutional support is it possible that this non-fundamental driven rally can continue?