Long-term mutual funds had total outflows of $10.95 billion in the week ended Oct. 5, the Investment Company Institute said. This was up substantially from the $5.68 billion of outflows in the previous week ended Sept. 28.
Equity funds had outflows of $3.79 billion for the week, down from outflows of $6.59 billion in the previous week. Investors withdrew $4.29 billion from domestic equity funds in the week ended Oct. 5, while pouring $498 million into foreign stock funds.
Hybrid funds saw outflows of $1.35 billion, down from outflows of $2.57 billion the previous week.
Bond funds had outflows of $5.80 billion, compared to inflows of $3.48 billion the previous week. Taxable bond funds had outflows of $6.24 billion, while municipal bond funds had inflows of $444 million.
-- This article first appeared on Money Management Executive.