The pullout from domestic stock funds continued last week, to the tune of $3.7 billion. But bond funds got another big influx.
Mutual funds that invest long-term in U.S. stocks were, once again, the biggest losers, in the week ending August 29.
Investors pulled out $3.7 billion from such funds, according to the Investment Company Institute. Funds that invest in international stocks lost another $724 million.
Picking up the slack and then some were bond funds. Bond funds of all types pulled in $6.6 billion. Taxable bond funds took in $5.6 billion, while municipal bond funds took in the remaining $993 million.
Funds that invest in both stocks and bonds took in $866 million.
So far in August, domestic stock funds have lost $13.2 billion. Since the start of 2007, when the first signs of a credit crisis started to emerge, investors have pulled $545.9 billion out of mutual funds that invest in U.S. companies, according to ICI historical data.
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