Long-term mutual funds took in $1.4 billion in the week ended Nov. 22, according to the Investment Company Institute.
However, investors continued to pull their money out of equity funds, with $3.72 billion leaving domestic equity funds and another $23 billion exiting international equity funds. This compares to $1.26 billion in outflows from equity funds the previous week.
Outflows from hybrid funds slowed to $1.42 billion for the week, down from the $4.59 billion that was redeemed from hybrid funds the previous week.
Investors’ love affair with bond funds continued, with the category taking in $6.57 billion in the week ended Nov. 22. The bulk of those inflows, $6.24 billion, went to taxable bond funds, with the balance of $333 million being invested in municipal bond funds. In the previous week, bond funds netted $6.47 billion.
-- This article first appeared on Money Management Executive.