Investors continue to lose their appetite for mutual funds, according to the latest statistics from the Investment Company Institute. For the week ended July 3, investors steered an estimated $1.68 billion into long-term mutual funds, about half the $3.2 billion they invested a week earlier.
U.S. equity funds were the hardest hit, posting estimated outflows of $3.14 billion, more than double the $1.47 billion outflow the week before. And global equity funds, which took in $300 million for the week, were down 17% from the previous week’s $361 million inflow.
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