Equity Mutual Funds Lose $43.3 Billion Already in October

Equity mutual funds have lost $43.3 billion in outflows already through Oct. 8, while money market mutual funds have reaped $60 billion, according to TrimTabs Investment Research.

Figures from the Investment Company Institute seemed to confirm that; in the week ended Oct. 8, ICI said, money market mutual fund assets increased by $58.54 billion to $3.458 trillion.

Investing by both institutional and retail investors was equally strong, the ICI said. Retail money market fund assets rose by $18.96 billion to $1.258 trillion, and institutional money fund assets rose by $39.58 billion to $2.2 trillion.

Remarkably, bond mutual funds have lost $8.8 billion so far this month.

“It is extremely unusual to see this drawdown, not only in stock funds but in bond funds,” said TrimTabs President and Chief Operating Officer Conrad Gann. “Investors are putting their money in savings accounts, insured checking deposits and any fund that has a ‘Treasury sticker’ on it. Anything else isn’t being considered.”