Fund investors step up sell-off of US stock funds

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Investors are quickening their flight from U.S. stock mutual funds and into bond funds. They pulled a net $1.85 billion from domestic stock mutual funds in the week ended June 20 while pouring $4.89 billion into bond funds, the Investment Company Institute said Wednesday.

Overall, total estimated inflows to long-term mutual funds were $4.56 billion for the week.

U.S. stock funds appear to be on a pace to register their 14th consecutive month of net outflows, with the pace of the exodus tripling from the previous week. Investors have yanked an estimated net of $12 billion from those funds in the last five weeks and more than $200 billion since April 2011. That was the last month that saw investors add more money than they withdrew.

World stock funds have seen inflows during the same period, including $327 million in the last week for a net addition of about $57.3 billion in 14 months, according to ICI data.... Continue to read.

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