Wires

Fund investors retreat from U.S. stocks, jump into foreign markets

comparison, have shed $126.2 billion over the same time.

NEW YORK, Nov 13 (Reuters) - Investors pulled nearly $7.5 billion out of mutual funds and exchange-traded funds that hold U.S. stocks last week, extending a retreat from the domestic stock market over six of the last seven weeks, according to data released Wednesday by the Investment Company Institute. The pullback from U.S. equities came during a week in which the S&P 500 notched record highs due to signs of progress in the U.S.-China trade talks. But concerns about the strength of the global economy and the high valuation of the U.S. equity market have continued to weigh on long-term investor sentiment. At the same time, investors sent $3.5 billion into world equity funds last week, the largest move into the category since early February and a sign that they may be looking for better values at a time when the S&P 500 is up more than any other developed market index since the beginning of the year. Investors continued to seek out the perceived safety of bonds, sending nearly $12.7 billion to taxable and municipal debt funds last week. That was the largest weekly inflow since early September and pushed the year-to-date gains for the category to slightly more than $378 billion. U.S. equity funds,

The following is a broad breakdown of the flows for the week, including mutual funds and exchange-traded funds in millions of dollars:

11/6/201 10/30/20 10/23/2 10/16/20 10/9/201

9 19 019 19 9Equity -3,950 -6,910 -5,662 755 -10,609Domestic -7,453 -4,225 -4,695 2,698 -9,964World 3,503 -2,684 -967 -1,943 -644Hybrid -626 -767 -170 -398 -688Bond 12,666 11,278 10,419 10,473 5,810Taxable 10,484 9,613 8,275 8,786 3,856Municipal 2,182 1,665 2,144 1,687 1,954Commodity 127 -319 222 -151 425Total 8,217 3,281 4,809 10,678 -5,061

(Reporting by David Randall; Editing by Dan Grebler)