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Mix-Ansicht- US stock funds face net outflows this month - Erwin, 28.10.2000, 18:17
- Re: US stock funds face net outflows this month - Obelix, 28.10.2000, 19:29
US stock funds face net outflows this month
Na, auf die Art wird das nix mit neuen ATH´s.
Da mußt du schon noch ´n paar Dolores locker
machen, Uncle Sam.:-)
Artikel aus der Straits Times, Singapur:
SANTA ROSA (California) -- US-based stock funds this month are on target to post net investor withdrawals for the first time in more than two years, according to a Santa Rosa, California-based research firm.
TrimTabs.com Investment Research expects outflows of US$3.5 billion (S$6.2 billion) this month amid market declines.
""I'm actually somewhat encouraged that people are viewing the equity market less as entertainment,'' said Mr Duncan Richardson, portfolio manager of the more than US$7 billion Eaton Vance Tax-Managed Growth Fund.
In addition to market volatility, investors are probably also reluctant to buy ahead of capital gains distributions they must pay taxes on, he said.
Mr Richardson said because equity markets can be volatile, investors should have a three- to five-year time horizon.
""I think people's time horizon this year has been shrunk to three to five months,'' he said.
The October outflows would be the first since the US$11.7 billion that leaked out in August 1998 when Russia defaulted on its debt. Net outflows to Oct 24 have totalled US$2.6 billion.
International fund outflows are expected to account for US$2.2 billion of the US$3.5 billion, a hefty amount considering those funds account for about 14 per cent of assets.
""People have been sour on international funds for quite a while,'' Mr Carl Wittnebert, TrimTabs' research director, said.
The technology funds TrimTabs tracks had net outflows of US$182 million to Oct 24.
For the full month, TrimTabs expects outflows of US$246 million. Tech sector outflows would be the first since February last year.
""The huge inflows to technology in the first quarter, they haven't been there for a while,'' Mr Wittnebert said.
Mr Haywood said index funds have taken in US$20 billion of net inflows this year to Sept 30, down from US$49 billion for the same period a year ago.
""It's off a little bit, and I think a lot of that has to do with market conditions now that we've kind of shifted more towards a stock pickers' market,'' he said. --Bloomberg News
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