For the seventh consecutive week, investors were overall net purchasers of fund assets (including those of conventional funds and ETFs), injecting $62.9 billion for Lipper's fund-flows week ended April 15, 2020. Fund investors were net purchasers of money market funds (+$46.8 billion), taxable fixed income funds (+$10.3 billion), equity funds (+$5.0 billion), and municipal bond funds (+$833 million) this week.
Market Wrap-Up
For the fund-flows week ended April 15, 2020, markets remained volatile but trended toward the upside as investors learned that several state governors began making plans to reopen their economies, hospitalizations from the coronavirus pandemic began to slow, and the Federal Reserve Board announced details of its Main Street Lending program. However, the beginning of Q1 earnings reporting season and disappointing economic news kept many at bay.
The NASDAQ Composite Price Only Index (+3.74%) witnessed the strongest gains for the fund-flows week of the broadly followed U.S. indices, followed by the S&P 500 Price Only Index (+1.21%). Meanwhile, the Russell 2000 Price Only Index (-0.65%) suffered the only negative returns of the group. Overseas, the Nikkei 225 Price Only Index (+2.27%) chalked up the only plus-side returns of the often-followed broad-based global indices, while the FTSE 100 Price Only Index (-0.49%) suffered the largest losses for the week.
On Thursday, April 9, despite news that an additional 6.6 million new jobless claims were filed for the prior week, the market finished the holiday-shortened trading week on an up note, with the main indices recovering about half of the losses witnessed in March. The S&P 500 (+12.10%) chalked up its strongest weekly gain since the week ended October 11, 1974 (+14.12%). The Fed announced details of its new Main Street Lending program, which will provide support to mid-sized businesses. Investors were also lifted by news that there was a decline in the number of new COVID-19 infections being reported, despite learning that
