Outflows from U.S. stock funds slowed in early August, according to the latest statistics from the Investment Company Institute. For the week ended Aug. 8, investors pulled an estimated $3.56 billion from funds that invest long-term in U.S. equities, down significantly from $5.65 billion they withdrew a week earlier. Since the beginning of the year, investors have pulled more than $68 billion from U.S. funds.
Outflows from non-U.S. equity funds also slowed. For the week ended Aug. 8, global funds lost an estimated $122 million in outflows, considerably less than the $1.22 billion they lost the week before.
All other categories posted inflows for the week. Bonds funds raked in an estimated $7.17 billion, up 41% from the previous week's $5.07 billion inflow. Of the $7.17 billion, $5.68 billion went to taxable bond funds with the remaining $1.49 billion going to municipal bond funds.
Hybrid funds - those that invest in both stocks and fixed income securities - took in $800 million in estimated inflows, up 27% from $630 million a week earlier.
All in all, it was a good week for mutual funds. The funds took in $4.29 billion in estimated inflows, reversing the previous week's $1.16 billion outflow.
The weekly fund flow estimates are derived from data covering more than 95% of industry assets, according to ICI. The statistics cover long-term mutual funds, those the ICI defines as investing in long-term instruments.
Register or login for access to this item and much more
All Bank Investment Consultant content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access