Oct. 30, 2002 — Cash spilled out of stock mutual funds in September to the tune of about $16.1 billion, worse than in August, when investors pulled a net $3.7 billion out of U.S. equity funds, according to data from the Investment Company Institute (ICI).
Domestic stocks funds alone lost a net $14.5 billion in September, versus $561 million in August. Stock funds that invest overseas had outflows of $1.6 billion last month, versus $2.5 billion in August. Overall, September’s ouflows paled in comparison to the record net $52.6 billion pulled from stock funds in July of this year.
Bond funds — taxable and tax-free combined — had net inflows of $15.9 billion in September, compared with inflows of $17.4 billion in August, ICI said.
Money-market funds had outflows of $62.5 billion in September, versus inflows of $38.7 billion in August. Of that September outflow, funds that offered primarily to institutions recorded outflows of $51.8 billion. Funds offered primarily to individuals had outflows of $10.7 billion.