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.
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