U.S. stocks funds suffered another setback as investors continued their relentless retreat from funds that invest long-term in U.S. equities. For the week ended Dec. 5, investors pulled an estimated $5.84 billion from U.S. funds, bringing total outflows for the year to more than $136 billion, according to the latest statistics from the Investment Company Institute.
Non-U.S. stocks also took a beating, losing an estimated $1.32 billion for the week. The outflows from both U.S. and global funds came just as they appeared to be subsiding. Both categories of funds lost a relatively mild $613 million and $15 million the week before.
Hybrid funds those that invest in both stocks and fixed income securities were also hit, losing $70 million in estimated outflows, a reversal of the previous weeks $144 million inflow.
Bond funds, in contrast, attracted an estimated $5.23 billion, up 23% from the $4.25 billion they took in a week earlier. Of the $5.23 billion, $4.15 billion went to taxable bond funds with the remaining $1.07 billion going to municipal bond funds.
Overall, mutual funds ended the week in the red with $2.01 billion in estimated outflows.
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.