Mutual funds logged another brutal week, posting its third outflow this year, according to the latest statistics from the Investment Company Institute. For the week ended June 6, investors withdrew an estimated $1.37 billion from long-term mutual funds, the third largest outflow this year. The year’s biggest outflows took place the weeks ended January 4 and May 23 when $5.38 billion and $4.9 billion, respectively, were pulled from mutual funds.
Once again, U.S. equity funds took the brunt of the most recent drubbing, losing an estimated $3.08 billion in outflows, a sharp reversal from the previous week’s $906 million inflow. The outflow was less than half the huge $7.2 billion outflow the week ended May 23.
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