Equity investors could not shake off their anxieties about the European sovereign debt crisis, and what that would mean for credit markets here.

Overall, they pulled $13.2 billion out of long-term mutual funds in May, according to Morningstar.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.