Mutual Funds Bleed $4.9B

Total estimated outflows from long-term mutual funds were $4.92 billion for the week ended Wednesday, May 23, according to data from the Investment Company Institute.

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Equity funds had estimated outflows of $7.02 billion for the week, compared to estimated outflows of $3.52 billion in the previous week. Domestic equity funds had estimated outflows of $7.20 billion, while estimated inflows to world equity funds were $184 million.

Hybrid funds, which can invest in stocks and fixed income securities, had estimated outflows of $695 million for the week, compared to estimated inflows of $243 million in the previous week.

On the flip side, bond funds saw estimated inflows of $2.79 billion, compared to estimated inflows of $7.18 billion during the previous week. Taxable bond funds saw estimated inflows of $1.90 billion, while municipal bond funds had estimated inflows of $888 million.