Outflows from U.S. equity funds show no signs of letting up, according to the latest statistics from the Investment Company Institute. For the week ended Aug. 1, investors pulled an estimated $5.68 billion from funds that invest long-term in U.S. equities, more than twice the $2.13 billion they withdrew the week before. Since the beginning of the year, U.S. stock funds have lost more than $64 billion in outflows.
Bond funds took in estimated inflows of $5.07 billion, down 12% from the $5.76 billion inflow a week earlier. Of the $5.07 billion, $3.94 billion went to taxable bond funds with the remaining $1.13 billion going to municipal bond funds.
Overall, mutual funds logged a lousy week, losing an estimated $1.19 billion in outflows, a sharp reversal from the previous week's $3.50 billion inflow.
The weekly fund flow estimates are derived from data covering more than 95% of industry assets, according to ICI. The statistics cover long-term mutual funds, those the ICI defines as investing in long-term instruments.
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