Tags: Investors | Exit | Stock | Bond | Funds

Investors Exit Stock, Bond Funds in August

Investors sought refuge from the market's volatility in August, withdrawing money from stock mutual funds and bond funds alike.

Industry consultant Strategic Insight reported Wednesday that investors withdrew a net $21 billion from U.S. stock funds last month. Investors also pulled more money out of bond funds than they deposited in August, with a net $11 billion in withdrawals.

Money-market funds were the only major fund category with more money flowing in than out in August. Net deposits into money funds totaled $69 billion.

Low-yielding money funds typically see cash surge in when markets are volatile, as they were in August. The Standard & Poor's 500 stock index tumbled more than 5 percent.

The month was marked by extreme declines and rebounds, and a U.S. credit rating downgrade by S&P.

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Investors sought refuge from the market's volatility in August, withdrawing money from stock mutual funds and bond funds alike. Industry consultant Strategic Insight reported Wednesday that investors withdrew a net $21 billion from U.S. stock funds last month. Investors...
Investors,Exit,Stock,Bond,Funds
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