Long-term mutual funds were hit with -$10.381 billion in redemptions the week ended July 27, the Investment Company Institute said. This came on the heels of -$4.58 billion in redemptions the previous week.
Equity funds saw -$10.094 billion in redemptions, -$8.758 billion from domestic stock funds and -$1.336 billion from international stock funds. Equity funds had outflows of -$6.84 billion the previous week.
Hybrid funds had outflows of -$73 million for the week, compared with outflows of -$105 million the previous week.
Investors redeemed -$214 million from bond funds, reversing the $2.36 billion of inflows the previous weke. Taxable bond funds saw outflows of -$67 million, while municipal bond funds had outflows of -$147 milion.
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