News&Notes: TrimTabs & Reserve Primary Fund

TrimTabs estimates all equity mutual funds post outflow of $9,227 mln in week ended Wednesday, October 29
TrimTabs Investment Research estimates that all equity mutual funds posted an outflow of $9,227 million in the week ended Wednesday, October 29, versus an outflow of $6,470 million in the previous week. Equity funds that invest primarily in U.S. stocks posted an outflow of $7,051 million, versus an outflow of $1,920 million in the previous week. Equity funds that invest primarily in non-U.S. stocks had an outflow of $2,176 million, versus an outflow of $4,540 million in the previous week. In addition, bond funds had an outflow of $5,867 million, versus an inflow of $532 million in the previous week, and hybrid funds had an outflow of $2,751 million, versus an inflow of $249 million in the previous week. Separately, TrimTabs reports that exchange-traded funds that invest in U.S. stocks posted an inflow of $903 million, versus outflow of $1,790 million in the previous week. ETFs that invest in non-U.S. stocks had an inflow $1,226 million, versus an inflow $426 million in the previous week. Separately, TrimTabs reports that exchange-traded funds that invest in U.S. stocks posted an outflow of $1.79 billion, versus inflow of $4.21 billion in the previous week. ETFs that invest in non-U.S. stocks had an inflow $426 million, versus an inflow of $522 million in the previous week.

Troubled fund begins payouts - NY Times
NY Times reports the Reserve Primary Fund, the giant money market fund whose customers have been waiting more than six weeks for their cash, announced late Thursday night that it would begin mailing checks to shareholders on Friday — for half their original investment. The announcement was the first indication of the losses the fund sustained when a wave of redemptions on Sept. 15 forced it to freeze withdrawals and liquidate its assets. The next day, the fund said it had "broken the buck," reporting a per-share value of less than a dollar. The announced per-share payment — 50 cents on the dollar — is more than some had expected, but well short of the dollar-per-share value that millions of money fund investors have long taken for granted. Indeed, it is considerably less than the price the fund reported on Sept. 16, which was 97 cents. But the Reserve Fund's president, Bruce Bent, said that he hoped the checks being mailed out would be the first installment, not the final payment.