Given the tremendous market turbulence of the past week, AMG Data Services data through Wednesday shows mutual fund investors holding steady.
Investors in equity funds, including equity exchange-traded funds, placed a net $4.371 billion in the week ended Sept. 17, with domestic funds reporting net inflows of $6.824 billion and non-domestic funds reporting net outflows of -$2.453 billion.
Excluding ETF activity, equity funds reported net cash outflows totaling -$3.914 billion with domestic funds reporting net outflows of -$1.814 billion and non-domestic funds reporting net outflows totaling -$2.100 billion.
Money market funds reported net cash outflows totaling -$144.541 billion, with -$58.417 billion withdrawn from The Reserves Primary money market fund share classes.
Even during times of heightened anxiety, Avi Nachmany, director of research at Strategic Insight told The Wall Street Journal, the great majority of mutual fund investors stuck to their portfolios and have not acted defensively. There is a very small percentage of investors, generally no more than 1% or 2%, that move defensively. Yet, even for them, such actions, again and again, are short-lived.