Long-term mutual funds enjoyed their 35th straight week of inflows, totaling $8.42 billion for the week ended Nov. 11, according to the Investment Company Institute. Year-to-date, equity, fixed income and hybrid fund sales now total $357 billion.
In the latest week, stock funds experienced $1.24 billion in outflows, down from the $4.78 billion they lost the week before. Continuing a trend for 2009, investors redeemed $2.7 billion from U.S. stock funds and placed $1.46 billion into foreign stock funds.
Bond funds continued to be popular with investors, taking in $8.88 billion, up from $7.5 billion the previous week. Hybrid funds netted $782 million, more than double the previous week.
Assets in money market funds continued their decline, losing $8.01 billion in the latest week, according to iMoneyNet.