Investors Pulling Money From Mutual Funds
Investors pulled more money from US mutual funds last week than they have in any 7-day frame in the past 2.5 years.
Net redemptions reached $28.6-B in the week ended 16 December, according to a statement from the Investment Company Institute, a trade group. It was the biggest weekly outflow since June 2013, ICI data show.
Some of the redemptions might reflect year-end tax-loss selling, which are sales made for tax purposes, ICI’s Senior Economist said in the statement.
Investors withdrew $11.1-B from stock funds, $12-B from bond funds and $5.6-B from funds that buy a mix of stocks and bonds. Municipal bond funds attracted $647-M, the only category that saw money inflows.
Mutual funds have experienced net redemption’s every month since July 2015, according to ICI data. In each of the 1st 6 months of the year, funds gathered money.
Wednesday US Major market indexes finished at: DJIA +185.34 at 17602.61, NAS Comp +44.82 at 5045.93,, S&P 500 +25.32 at 2064.29
Volume: Trade was light with about 820-M/shares exchanged on the NYSE
- NAS Comp +6.5% YTD
- S&P 500 +0.3% YTD
- DJIA -1.2% YTD
- Russell 2000 -4.1% YTD
|Neutral (0.14)||Neutral (-0.03)||Neutral (0.23)||Neutral (0.22)|
|Neutral (0.24)||Neutral (-0.04)||Neutral (0.21)||Very Bullish (0.56)|
|Bullish (0.28)||Neutral (-0.11)||Bullish (0.46)||Very Bullish (0.50)|
|Neutral (-0.07)||Neutral (-0.08)||Neutral (0.06)||Neutral (-0.18)|