Investors pulled $20.4 billion out of stock mutual funds in October, 52% more than the $13.4 billion they withdrew in September, according to the Investment Company Institute’s monthly survey of the mutual fund industry. But most of that money went back into bond funds and hybrid funds, which took in a combined $16.3 billion for the month.

Of the stock funds’ outflow of $20.4 billion, the vast majority ($18 billion) came from those funds that invest primarily in the U.S. World equity funds—U.S. stock funds that invest primarily overseas—in contrast, posted an outflow of $2.4 billion.

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