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Alternative Market Briefing

Investors are pulling out of bond funds

Friday, September 06, 2013

amb
Simon Lack
Benedicte Gravrand, Opalesque Geneva:

Investors redeemed more than $17 billion from U.S.-listed ETFs last month, says Index Universe, making it the biggest month of outflows in the 20-year history of the ETF industry. Of the $17 billion, $6.5 billion was pulled out of bond funds, with the iShares 3-7 Year Treasury Bond ETF seeing more than $2 billion in outflows alone.

"Regarding bonds, investors have been trimming duration risk since Ben Bernanke’s suggestion that the Fed might start to "taper" its quantitative easing program sometime this year, and that continued in August as it was in June," says the report.

Lipper was also reporting, a couple of weeks ago, sharp retail outflows from high-yield bond funds for the third time in four weeks.

As for emerging market bond funds, they saw 14 straight weeks of outflows, with investors withdrawing $4.56 billion in August alone, according to EPFR Global. Returns from such funds are down 3.56% for the month and down 10% YTD, reports WSJ.com.

So why are investors fleei......................

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