The exodus of capital from mutual funds investing in domestic stocks slowed down last week.
Investors pulled $1.8 billion from domestic stock funds in the week ended Wednesday March 21, according to estimates released by the Investment Company Institute.
That compares to $2.9 billion pulled from such funds in the prior week. The last time domestic equity funds saw an inflow was the week of Feb. 15 when they picked up $46 million.
Mutual funds overall saw inflows of $6.4 billion for the week, down from the $7.8 billion inflow the previous week.
The gain, as has been the case, was due to fixed-income funds, which saw $5.7 billion in inflows.
That was down markedly, however, from the previous week’s mark when bond funds saw $9.1 billion pour-in from new investors. Of the current bond inflows, $5.8 billion went to taxable funds while muni funds saw outflows of $135 million.
Hybrid funds, those that can invest in stocks or fixed income, had estimated inflows of $1.8 billion for the week.
ICI estimates fund flow numbers after collecting data from funds that cover 95% of the industry’s assets.
________________________________________
