U.S. stock funds were hit with -$2.6 billion in outflows in the week ended Aug. 24, the Investment Company Institute said. Investors’ skittishness over market volatility again has gotten the best of them, after having invested a net $1.3 billion into U.S. stock funds the week prior.
Investors also withdrew -$610 million from foreign stock funds in the week, following inflows of $344 million in the prior week ended Aug. 17.
In total, equity funds lost -$3.2 billion to redemptions in the week ended Aug. 24.
For all asset classes of long-term funds, outflows were -$2.0 billion for the week. That means $871 million went into hybrid funds, and $295 million into bond funds, with taxable bond funds netting $287 million and municipal bond funds receiving $8 million.
Outflows to all asset classes trickled down to a revised -$555 million in the week prior (the ICI previously reported net outflows of -$772 million), after massive outflows of -$40.3 billion in the week ended Aug. 10, -$17.0 billion in the week ended Aug. 3 and -$9.6 billion in the week ended July 27.
