An estimated $9.2 billion flowed out of long-term mutual funds for the week ending Wednesday, Nov. 30, according to the latest statistics by the Investment Company Institute, a trade association for U.S. investment companies.

Long-term mutual funds are stock, bond and hybrid funds that invest in long-term instruments, said an ICI spokesperson. They do not include money market funds.

For the week ended Nov. 30, equity funds had estimated outflows of $9.6 billion, compared with estimated outflows of $3.7 billion the previous week. Domestic equity funds had estimated outflows of $6.7 billion, while estimated outflows from foreign equity funds were $3 billion.

Hybrid funds—those that invest in stocks and fixed income securities—had estimated outflows of $778 million for the week, compared with estimated outflows of $1.4 billion the week before.

Bond funds had estimated inflows of $1.2 billion, compared with estimated inflows of $6.5 billion the previous week. Taxable bond funds saw estimated inflows of $709 million, while municipal bond funds had estimated inflows of $449 million.

The weekly flow estimates are derived from data covering more than 95% of industry assets and are adjusted to represent industry totals, ICI said in a statement.

Margarida Correia writes for Bank Investment Consultant.