Investors Withdraw Most From U.S. Mutual Funds Since June 2013
This article is for subscribers only.
Turmoil in financial markets prompted investors to pull $27.3 billion from U.S. mutual funds last week, the biggest withdrawal in more than two years.
Stock funds suffered redemptions of $11 billion in the week ended Aug. 26 while bond funds saw outflows of $12.1 billion, according to a statement Wednesday from the Investment Company Institute, a Washington-based trade group. Funds that buy a mix of stocks and bonds had redemptions of $4.3 billion.