More than $1.2 trillion has been redeemed from equity mutual funds since September 2008, and retail outflows year-to-date through September have surpassed $89 billion-on pace to be greater than all of the money that fled mutual funds in 2008, said Ron O'Hanley, president of asset management and corporate services at Fidelity Investments.

O'Hanley made the observation in a keynote speech titled "Where Are Thou, Equities?" at Fund Forum USA's Global Funds Distribution Summit in Boston.

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