Equity Funds Stop Bleeding, A Bit
October 17, 2012
Long-term mutual funds experienced inflows of $7.04 billion for the week ended Wednesday, October 10, according to the Investment Company Institute.
Outflows from equity funds dropped to $2.61 billion for the week, compared to estimated outflows of $11.22 billion in the previous week.
Hybrid funds had estimated inflows of $139 million for the week, compared to estimated inflows of $2.26 billion in the previous week.
And bond funds again experienced inflows of $9.51 billion, compared to estimated inflows of $9.52 billion during the previous week.
The flight from stock funds had been picking up steam. In the week ending September 12, investors pulled out $3.3 billion. A week later, $5.1 billion. In the week ending September 26, $7.5 billion. And then, the $11 billion in the week ending October 3, with $10.6 billion coming out of domestic stock funds.
By comparison, taxable bond funds took in $8.1 billion and municipal bond funds $2.8 billion. The total: $10.87 billion.
Hung Tran is editor of Money Management Executive.