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.
Hybrid funds, meanwhile, took in $389 million, up from $170 million the previous week.
Investors’ love affair with bond funds continued unabated, with the category taking in $2.21 billion for the week, on par with the $2.54 billion that bond funds took in the week ended Dec. 21. Taxable bond funds saw inflows of $1.23 billion, and municipals, $977 million.