Investors cash out $21.9 billion from funds

Investors pulled $21.9 billion out of stock and bond mutual funds in September, according to estimates from the Financial Research Corp. of Boston.
OCT 31, 2008
By  Bloomberg
Investors pulled $21.9 billion out of stock and bond mutual funds in September, according to estimates from the Financial Research Corp. of Boston. The largest fund groups saw a decline in assets, with Malvern, Pa.-based The Vanguard Group’s assets dropping 7.74%, to $956.9 billion, in September, followed by American Funds Investment Co. of Los Angeles with a decline of 9.94%, to $931.4 billion, and Fidelity Investments of Boston, which saw a 11.8% drop in assets, to $716.9 billion. Domestic stock funds took in $12.8 billion for the month, while international and global stock funds had net outflows of $27.6 billion. Boston-based State Street Global Advisors’ SPDR S&P 500 ETF led the month as the top seller, taking in $20.2 billion in net flows for September. The iShares Russell 2000 Index Fund ranked second, attracting $6.3 billion in net inflows. The data do not include money market funds, FRC noted.

Latest News

Advisor headcount down at Bank of America, Osaic and UBS so far in 2025, Wolfe Research analyst says
Advisor headcount down at Bank of America, Osaic and UBS so far in 2025, Wolfe Research analyst says

Counting advisor moves in and out of firms requires some art as well as science.

Carson Group's M&A head sees '10-to-15 year bull market' for RIAs
Carson Group's M&A head sees '10-to-15 year bull market' for RIAs

“I'm just a big believer that based on demographics alone, we are looking at a 10-to-15 year bull market in M&A in the RIA and independent wealth space,” said Michael Belluomini, SVP of M&A at Carson Group.

Nationwide finds Medicare myth on long-term care could cost Americans dearly
Nationwide finds Medicare myth on long-term care could cost Americans dearly

As a tsunami of retirees comes crashing in, three-fifths of those surveyed believe – wrongly – that the federal safety net will cover their LTC needs.

Fintech bytes: Orion, Altruist unveil new RIA-focused integrations
Fintech bytes: Orion, Altruist unveil new RIA-focused integrations

Orion's latest update, a partnership with 11th.com, focuses on an underserved area of compliance for advisors and wealth firms.

Raymond James reels in advisors managing $1B+ in Colorado
Raymond James reels in advisors managing $1B+ in Colorado

The latest arrivals, including a 10-advisor ensemble from Ameriprise, bolster the firm's independent contractor and employee advisor channels.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.

SPONSORED Beyond the dashboard: Making wealth tech human

How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave