Investors snubbed U.S. stock mutual funds yet again, according to the latest statistics from the Investment Company Institute. For the week ended May 9, investors pulled an estimated $2.41 billion from mutual funds that invest long-term in U.S. stocks. The bit of good news is that the outflow slowed from the $5.45 billion that was withdrawn from the funds a week earlier. For the year, domestic funds have lost more than $34 billion in outflows.
Investors instead opted for non-U.S. stock funds, adding an estimated $1.12 billion to the funds for the week. That’s more than seven times the $142 million they put into global funds a week earlier.
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