Mutual funds managed to bounce back from the massive $4.9 billion outflow they endured mid May, according to the latest statistics from the Investment Company Institute. For the week ended May 30, investors steered an estimated $1.63 billion into mutual funds, a reversal from the previous week’s sizable outflow. Still, the infusion was the smallest so far this year.
Equity funds, which have taken the brunt of the outflows all year, surprisingly took in the bulk of the $1.63 billion this time, posting an estimated $1.49 billion in inflows for the week. Of the $1.49 billion, $807 million went to U.S. stock funds, reversing a 15-week stint of consecutive outflows totaling more than $45 billion.
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