Investors continued to pour money into long-term mutual funds, with the latest week ended Sept. 23 taking in $16.03 billion, bringing the 28-straight-week sales streak to a total of $300 billion, the Investment Company Institute said.
Stock funds, however, continued to lose assets, with $1.88 billion being withdrawn, up from $1.38 billion the week before. However, investors’ outlook was split between U.S. and foreign equity funds, with the former losing $2.03 billion in assets and the latter taking in $152 million.
Bond funds continued to be popular with investors, taking in $12.91 billion in the latest week, steady with the $12.69 billion they reaped the previous week. Hybrid funds took in $5 billion, down slightly from $5.17 the previous week.
And money market funds experienced the fourth consecutive month of outflows. Investors redeemed $19.58 billion from money funds. Since peaking at $3.849 trillion in January, money funds now total $3.419 trillion.