Fund Investors Pull $56B in Biggest Exit Since '08

The exit from funds came as stocks have plunged on fears of a slowing global economy and President Donald Trump’s criticism of Federal Reserve Chairman Jerome Powell. The S&P 500 index lost 5.4 percent in the week ended Dec. 19.

Here’s the breakdown of the fund categories from which investors pulled money from during the week ended Dec. 19:

• Total equity -$27.04 billion;
• Domestic equity -$12.68 billion:
• World equity -$14.36 billion;
• Hybrid funds -$9.56 billion;
• Total bond -$19.6 billion;
• Taxable bond -$18.47 billion; and
• Municipal bond -$1.14 billion.

Pointing to the flow of money into ETFs, ICI Chief Economist Sean Collins said in a statement that it reinforced the view that “some investors view periods of volatility as a buying opportunity.”