Investors Pull $1.66 Billion Out of Bond Funds in Latest Week

Thursday, 16 Dec 2010 07:42 AM

 

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Investors pulled $1.66 billion out of bond mutual funds in the week ended Dec. 8, the Investment Company Institute said.

That marked the third time in the last four weeks that bond flows were negative. They edged up $409 million during the prior week.

Still, the four-week moving average, which smoothes volatility, remains negative for the second week in a row at $1.86 billion. Prior to December, that average had been positive the entire year.

Taxable bond mutual funds also saw net outflows of $401 million for the week. This marked first week of outflows since Dec. 10, 2008.

U.S. stock funds had an estimated outflow of $2.67 billion and international equity continued to attract funds with inflows of $1.27 billion.

ICI calculates flow estimates from data collected from 95 percent of the industry's assets.

The ICI report comes after the research company Strategic Insight said last week that a two-year string of positive monthly flows into bond funds was snapped in November. Investors pulled $1.3 billion from bond funds last month, the first outflow since the credit crunch in December 2008.

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