News Summary: Exit from stock mutual funds in Sept
STOCK FUND WITHDRAWALS: Investors in September withdrew money from stock mutual funds at the fastest pace of the year, marking the seventh straight month that withdrawals have exceeded deposits. A net $16 billion flowed out of U.S. stock funds, consultant Strategic Insight said Wednesday.
STOCK ETF DEPOSITS: Exchange-traded funds investing in U.S. stocks attracted $26 billion in new cash last month, offsetting the total that flowed out of stock mutual funds. That suggests investors still saw value in stocks, which rose for the fourth consecutive month.
BOND FUND APPEAL: Investors added a net $32 billion to bond mutual funds.