U.S. stock funds can’t seem to get any love these days, posting 13 consecutive weeks of outflows. For the week ended May 16, investors pulled an estimated $3.45 billion from the funds, according to the latest statistics from the Investment Company Institute. That’s $1.10 billion more than they withdrew from the funds a week earlier. Since the beginning of the year, the funds have lost $38 billion in outflows.
Non-U.S. stock funds also took a beating, losing an estimated $117 million in outflows for the week. They took in $1.04 billion the week before.
Investors again fled to bond funds, throwing an estimated $7.22 billion into taxable and municipal funds. Of the $7.22 billion, $5.98 billion went to taxable bond funds.
Hybrid funds — those that invest in both stocks and fixed income securities — received $243 million in estimated inflows, a whopping 61% drop from $627 million a week earlier.
Overall, mutual funds posted a lackluster week with estimated inflows of $3.90 billion. That’s off 43% from the $6.92 billion inflow the week before.
The weekly fund flow estimates are derived from data covering more than 95% of industry assets, according to ICI. The statistics cover long-term mutual funds, those the ICI defines as investing in long-term instruments.