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News Summary: Exit from stock mutual funds in July

Friday - 8/10/2012, 6:04pm  ET

By The Associated Press

(AP) - STOCK AVERSION: Investors in July withdrew more from stock mutual funds than they deposited into them, although stocks rose 1 percent during the month. Net withdrawals from U.S. stock funds totaled $12.7 billion, industry consultant Strategic Insight said Friday. It was the fifth consecutive month of net withdrawals.

BONDS BRING IT IN: Investors added a net $29 billion to bond funds, which have attracted cash for 11 consecutive months.

BOND APPEAL: Net deposits into bond funds through July are already 50 percent more than the total for all of last year. The year-to-date total is about $179 billion.


(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)