Long-term mutual funds were hit with $2.62 billion in outflows the week ended Dec. 28, the Investment Company Institute said Wednesday. This was up from outflows of $1.87 billion the week ended Dec. 21.

Equity funds had estimated outflows of $5.22 billion for the week, compared to outflows of $4.57 billion the previous week. Domestic equity funds had outflows of $3.99 billion, while $1.23 billion was redeemed from foreign equity funds.

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