Investors yanked $33.6 billion out of U.S. mutual funds in August, one of the biggest months on record with redemptions, according to Strategic Insight. Year-to-date, redemptions have totaled $21.2 billion, according to the research firm.
Both stock and bond funds were hit with withdrawals in August, with $1.4 billion flowing out of foreign stock funds and $9.7 billion coming out of taxable bond funds.
These outflows come on top of big redemption figures in the previous two months. In July, investors withdrew $23 billion from mutual funds, and in June, they took out $17 billion.
By comparison, exchange-traded funds have seen $90 billion in inflows year-to-date.
Investors took $21.4 billion out of stock funds and $10.8 billion from bond funds in August.
-- This article first appeared on Money Management Executive.
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