The pelting of U.S. stock funds continues unabated, according to the latest statistics from the Investment Company Institute. For the week ended June 20, investors pulled an estimated $1.85 billion from mutual funds that invest long-term in U.S. equities, almost three times the $620 million withdrawn from the funds a week earlier. The funds have lost more than $53 billion in outflows since the beginning of the year.
All other fund categories posted inflows for the week, including global equity funds, which took in $327 million. Hybrid funds — those that invest in both stocks and fixed income securities — posted estimated inflows of $1.18 billion.
Bond funds again were week’s biggest winners, raking in an estimated $4.89 billion, up 40% from the $3.50 billion inflow a week earlier. Of the $4.89 billion, $4.03 billion went to taxable bond funds with the remaining $860 million going to municipal bond funds.
All told, mutual funds took in $4.56 billion in estimated inflows, down 15% from 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.