For the first time in three months, investors pulled money from equity funds, The Wall Street Journal's
Alexandra Scaggs writes. U.S. equity mutual funds had $226 million in outflows in the week ended September 4, the first losing week since the seven-days ended June 5, Scaggs reports.
This is quite the opposite of last week, when those funds had $1 billion in inflows, according to Scaggs.
Scaggs quotes Lipper senior research analyst Jeff Tjornehoj, who told the WSJ
reporter that "It turned out to be a decent week, but sometimes investors drive by the rearview mirror. They have put a lot more money into domestic equities in the recent past, so that's the first place they remove money from, too."
The outflows were smaller than June's $769 million weekly outflow, however. Mutual fund investors are just catching up to ETF investors, Scagg writes, who have removed $23 billion from U.S. equity funds in the past four weeks.
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