Investors Pulled $16 Billion From U.S. Stock Funds in September
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Investors removed $16 billion from U.S. stock funds last month even as the Standard & Poor’s 500 Index posted its best September since 1939, according to data from Morningstar Inc.
International stock funds attracted $1.5 billion in September, while bond funds collected $26 billion, Chicago-based Morningstar said today in a report. Investors withdrew money from U.S. stock funds despite an 8.8 percent increase in September, the biggest gain for the month in 71 years.