For the second week in three, investors were overall net purchasers of fund assets (including those of conventional funds and ETFs), injecting $3.4 billion for Refinitiv Lipper's fund-flows week ended August 5, 2020. Fund investors were net purchasers of taxable fixed income funds (+$9.2 billion) and municipal bond funds (+$1.6 billion) while being net redeemers of equity funds (-$7.2 billion) and money market funds (-$216 million) this week.
Market Wrap-Up
Investors pushed markets higher during the fund-flows week, supported by hopes for an agreement by Congress to fund another fiscal relief package, on better-than-expected Q2