Stock Funds Have Most Withdrawals in a Year in Flight to Bonds
By Charles Stein -
2012-10-10T20:35:12Z
Stock mutual funds in the U.S. had the biggest withdrawals in more than a year as investors continued their flight to the perceived safety of bonds.
Domestic stock funds had redemptions of $10.6 billion and those buying non-U.S. equities lost $483 million to withdrawals in the week ended Oct. 3, the most since Aug. 10. 2011, according to the Washington-based Investment Company Institute. Investors added $10.87 billion to fixed-income funds in the week, the ICI said today in an e-mailed statement.
To contact the reporter on this story: Charles Stein in Boston at cstein4@bloomberg.net
To contact the editor responsible for this story: Christian Baumgaertel at cbaumgaertel@bloomberg.net
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