Long-term mutual funds took in an estimated $5.75 billion in the week ended Sept. 22, the Investment Company Institute said Wednesday.
Equity funds were hit with $1.9 billion in redemptions, split between $2.5 billion being withdrawn from domestic stock funds and $616 million moving into foreign stock funds. Hybrid funds reaped $741 million in inflows.
The popularity of bond funds continued, with the category taking in $6.9 billion for the week, $6.2 billion of that going to taxable bond funds and $619 million to municipal funds.
Over the past five weeks, equity funds have been hit with a total of $20.2 billion in redemptions, while bond funds have taken in $32.9 billion in inflows. During that time, investors have placed $716 million into hybrid funds.
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