Assets Being Withdrawn Out of Global Mutual Funds

Investors are starting to withdraw assets out of mutual funds, according to MarketWatch. Investors took a net $2.39 billion from global equity mutual funds by last Thursday, according to TrimTabs Investment Research. The previous week, investors put $2.73 billion were poured into such funds.The outpour came after last week’s stock market biggest one-day decline since the Sept. 11, 2001 terror attacks. The decline was due to the Chinese stock market declining 9%, and constant worry about U.S. subprime loans and the Japanese yen’s sharp appreciation.

Equity funds that invest primarily in U.S. stocks saw outflows of $3.48 billion, compared to inflows the previous week of $530 million, according to TrimTabs.

The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.