Interest in U.S. mutual funds slipped further in early February, according to the latest statistics from the Investment Company Institute. For the week ended Feb. 13, investors steered a meager $509 million into funds that invest long-term in U.S. stocks, down 37% from the $813 million they placed into the funds a week earlier.
Global equity funds, meanwhile, took in an estimated $5.21 billion, about the same as the week before.
Hybrid funds, which invest in both stocks and fixed income securities, were also flat, drawing an estimated $2.03 billion.
Bonds funds saw a drop in inflows. For the week ended Feb. 13, bond funds drew an estimated $4.94 billion, down 18% from $6.03 billion the previous week. Of the $4.94 billion, $4.10 billion went to taxable bond funds with the remaining $840 million going to municipal bond funds.
All told, mutual funds attracted a lackluster $12.69 billion in estimated inflows, a 9.6% drop from $14.05 billion 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.
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