Market Commentary and Intraday News

News Summary: Exit from stock mutual funds in Aug

278 days ago

By The Associated Press

STOCK AVERSION: Investors in August withdrew more from stock mutual funds than they deposited into them, despite a more than 2 percent gain by stocks during the month. Net withdrawals from U.S. stock funds totaled $11 billion, industry consultant Strategic Insight said Thursday. It was the sixth-consecutive month of net withdrawals.

BONDS ATTRACT CASH: Investors added a net $34 billion to bond funds, which have added cash for 12 months in a row.

YEAR-TO-DATE HAUL: Some $213 billion has flowed into bond funds through August, putting the category on track to potentially exceed $300 billion in new cash for the full year.

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