News Summary: Exit from stock mutual funds in June
Published: July 13, 2012
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SHAKY CONFIDENCE: Investors in June continued to withdraw more from stock mutual funds than they deposited into them, although stocks rose 4 percent during the month. Investors withdrew a net $7.7 billion from U.S. stock funds, industry consultant Strategic Insight said. It was the fourth consecutive month that money was pulled out of stock funds.
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OVERSEAS ATTRACTION: Investors deposited a net $5.4 billion last month into funds investing in foreign stocks.
BONDS HOLD APPEAL: Investors added a net $15 billion to bond funds. They have attracted cash for 10 consecutive months.
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