Mutual funds dropped $1.19 billion for the week ended Wednesday, August 1, according to data from the Investment Company Institute.
Equity funds bled $6.89 billion for the week, compared to estimated outflows of $3.00 billion in the previous week. Domestic equity funds had estimated outflows of $5.68 billion, while estimated outflows from world equity funds were $1.22 billion.
On a brighter note, hybrid funds, which can invest in stocks and fixed income securities, were in the black to the tune of $630 million for the week, compared to estimated inflows of $737 million in the previous week. Bond funds also experienced inflows of $5.07 billion, compared to estimated inflows of $5.77 billion during the previous week. Taxable bond funds saw estimated inflows of $3.94 billion, while municipal bond funds had estimated inflows of $1.13 billion.