JANUARY 12, 2012
Article from The Wall Street Journal
Long-term mutual funds had estimated net outflows of $5.59 billion in the latest week, as withdrawals from stock funds outpaced increases in bond and hybrid funds, according to the Investment Company Institute.
For the week ended Jan. 4, stock funds had net outflows of $9.35 billion, compared with prior-week outflows of $5.1 billion. Investors withdrew $7.06 billion from U.S. stocks and pulled $2.29 billion from foreign funds.
Meanwhile, ICI reported that bond funds had inflows of $3.31 billion, compared with prior-week inflows of $2.09 billion. Investors added $2.13 billion to taxable funds, while inflows to municipal funds totaled $1.18 billion.
Investors also added $457 million to hybrid funds after prior-week inflows of $460 million. Such funds can invest in both stocks and fixed-income assets.
Separately, assets in money-market funds rose $32.36 billion in the latest week amid inflows to prime funds, according to iMoneyNet. For the week ended Tuesday, total assets in money-market funds increased to $2.68 trillion, iMoneyNet said.
The seven-day yield for taxable money-market funds held steady at 0.02% for the 24th consecutive week.
Taxable funds had net inflows of $26.57 billion, as institutional investors added $28.33 billion and individual investors withdrew $1.76 billion.
Prime funds, which invest in securities such as commercial paper, had $23.06 billion of inflows. Government funds increased by $3.51 billion.
Tax-free funds climbed by $5.8 billion, to $296.57 billion. Yields for seven-day funds and 30-day funds each held steady at 0.01%.
Article from The Wall Street Journal