(AP Photo/Bebeto Matthews) The Standard & Poor?s 500 stock index rose about 4 percent in June, but the previous month?s 6 percent decline apparently was fresh in investors? minds.
Investors retreat from stock mutual funds in June
Money ? They remain skittish despite market?s gain.
By MARK JEWELL
| The Associated Press
First Published Jul 13 2012 10:08 am ? Last Updated Jul 13 2012 06:05 pmBoston ? A rising market didn?t instill confidence last month, as investors continued to withdraw more from stock mutual funds than they deposited into them.
Industry consultant Strategic Insight reports that investors withdrew a net $7.7 billion from U.S. stock funds in June. That?s the biggest monthly flow out of stock funds this year. Through June, net withdrawals total $15 billion.
Stocks gained about 4 percent in June, the market?s best month since February.
Although cash flowed out of U.S. stock funds last month, investors deposited a net $5.4 billion into funds investing in foreign stocks.
Strategic Insight said on Thursday that bond funds attracted cash, with more than $15 billion in net deposits. Funds investing in taxable bonds attracted $11 billion, with $4 billion flowing into municipal bond funds.
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Source: http://www.sltrib.com/sltrib/money/54483459-79/funds-billion-net-investors.html.csp
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