U.S. equity funds suffered the biggest outflows, losing an estimated $5.22 billion for the week. Global stock funds, in contrast, attracted $292 million in estimated inflows.
Municipal bond funds got hit too, for the first time this year. Investors yanked an estimated $3.26 billion from the funds, giving them a severe black eye and their first weekly outflow this year. Taxable bond funds, meanwhile, hauled in $3.69 billion, leaving bond funds with a paltry $431 million in estimated inflows, down sharply from the $1.79 billion they attracted in estimated inflows a week earlier.
Hybrid funds, which invest in both stocks and fixed income securities, posted a measly $11 million in estimated inflows for the week, a 91% drop from the $119 million 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.