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.

See “Fund Outflows Trickle Down to -$772 Million,” Money Management Executive, Aug. 25, 2011.

See "$40 Billion Flows Out of Mutual Funds. In One Week," Money Management Executive, Aug. 18, 2011.

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.