Outflows from U.S. stock funds accelerated in early November, according to the latest statistics from the Investment Company Institute. For the week ended November 14, investors pulled an estimated $6.63 billion from mutual funds that invest long-term in U.S. equities, more than three times the $2.14 billion they withdrew from the funds the week before. Investors have yanked more than $123 billion from domestic stock funds since the beginning of the year.
Non-U.S. stock funds also took a hit, losing an estimated $1.75 billion for the week, as did hybrid stock/bond funds, which lost $1.22 billion. Both categories of funds posted modest inflows of $301 million and $553 million, respectively, the previous week.
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