Mutual Funds in Giving Mood
November 21, 2012
Ouch! Long-term mutual funds saw $2.99 billion in outflows for the week ended Wednesday, Nov. 14. That's a steep drop from $6.19 billion in inflows the week prior.
Bond funds maintained somewhat the pace of the week ended Nov. 7, although inflows fell 11% to $6.61 billion from $7.47 billion, according to data from the Investment Company Institute. But that didn't outdo the $8.38 billion in outflows from equity funds, compared to $1.84 billion the previous week, the ICI reported.
Domestic equity funds saw outflows of $6.63 billion, while world equity funds experienced outflows of $1.75 billion.
Meanwhile, hybrid funds experienced outflows of $1.22 billion, compared with inflows of $553 million the prior week.