Outflows long-term mutual funds for the week ended October 12 are estimated at $2.93 billion, The Wall Street Journal reports. This is the third straight week when investors have withdrawn from equities and put more in bonds and hybrid funds, as per the Investment Company Institute (ICI).
Equity funds saw $7.48 billion in outflows relative to $3.86 billion the week before. In contrast, bond funds attracted $4.04 billion compared to outflows of $5.81 billion the week before. Investors also put $4.01 billion in taxable funds, $28 million in municipal funds, and $512 million in hybrid funds, which in the previous week saw outflows of $1.35 billion.
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