The Investment Company Institute reported Wednesday that $5.96 billion were added to mutual funds in the week ended August 11. But U.S. equity funds continued to lose ground.

Money flowed out of U.S. equity funds for a fifth straight week, according to estimates released by the ICI.

Roughly $1.4 billion flowed out of stock funds in the week ended August 11, according to the ICI. That compares to $2.2 billion in the week ending Aug. 4, $4.1 billion in the week ended July 28, $1.2 billion in the week ended July 21 and $3.2 billion in the week ended July 14.

The good news: The nearly $6 billion that flowed into long-term mutual funds overall was ahead of the $5.6 billion of the previous week. The peak for a week this summer was $7.1 billion coming into long-term funds, the week of July 21.

Bond funds had estimated inflows of $7.17 billion, compared to $7.55 billion the previous week. Taxable bond funds saw inflows of $5.79 billion, while municipal bond funds had inflows of $1.38 billion.

Hybrid funds, which invest in stocks and bonds, had inflows of $213 million for the week, compared to $233 million the previous week.

Data for previous weeks reflect revisions due to data adjustments, reclassifications, and changes in the number of funds reporting, the ICI noted.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access