Interest in mutual funds swooned to a new low this year, according to the latest statistics from the Investment Company Institute. During the week ended April 17, investors steered a paltry $3.66 billion into the funds, making it their most dismal week this year.
Equity funds captured the biggest inflows, taking in an estimated $2.39 billion for the week. Of the $2.39 billion, $1.75 billion went to U.S. funds with the remaining $645 million going to global funds.
Taxable bond funds came in second, posting estimated inflows of $2.21 billion, down 15% from the previous week. Municipal bond funds, meanwhile, lost an estimated $698 million in outflows.
Hybrid funds, which invest in both stocks and fixed income securities, were also hit hard, losing $246 million for the week, their first outflow so far this year.
The weekly fund flow estimates are derived from data covering more than 95% of industry assets, according to ICI. The statistics cover long-term mutual funds, those the ICI defines as investing in long-term instruments.
