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.

Register or login for access to this item and much more

All On Wall Street content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access