Investors continue to take money out of stock mutual funds, with outflows nearly doubling in each of the past two weeks.
Stock funds saw $9.541 billion in outflows in the week ended Wednesday, Sept. 1, a 76% increase from the $4.603 billion in outflows in the week ended Aug. 25, which itself was a 59% increase from the $1.431 billion in outflows the week ended Aug. 11, the
Investors' love affair with foreign stock funds has soured in the past three weeks, as well, redeeming $1.944 billion from foreign stock funds in the latest week and $292 million and $110 million from the category the previous two weeks.
U.S. stock funds are the biggest category to take the outflows hit, with $7.596 billion walking out the door the week ended Sept. 1, and $4.311 billion in redemptions in the week ended Aug. 25 and $2.712 billion in redemptions the week ended Aug. 11.
Inflows to bond funds, on the other hand, remain very strong, with $6.658 billion moving into this fixed income category in the latest week. In the two previous weeks, bond funds received inflows of $5.904 billion and $7.923 billion.
In total, estimated outflows from long-term mutual funds were $4.31 billion for the week ended Sept. 1.