Withdrawals hit high as investors stampede out of mutual funds

Withdrawals hit high as investors stampede out of mutual funds
Most money pulled out since last May; stock and bond funds both dumped
JUL 18, 2011
U.S. mutual funds had $10.4 billion withdrawals last week, the most in more than a year, as investors dumped both stock and bond funds. Domestic stock funds lost $8.76 billion to redemptions in the week ended July 27, the Washington-based Investment Company Institute said today in an e-mailed statement. That's the biggest weekly withdrawal since May last year. International stock funds lost $1.34 billion, taxable bond funds had $67 million in withdrawals, and municipal bond funds saw $147 million in outflows. --Bloomberg News--

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