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The summer selloff is sending mutual fund investors to the sidelines as equity funds saw outflows of $1.25 billion in the week ended Aug. 11, up from outflows of $120 million last week according to AMG Data Services.

Rival fund tracker TrimTabs corroborated the current direction of fund flows by reporting a decline of $951 million in equity funds, a sharp reversal from the $1.5 billion in inflows for the prior week.

"Complacency is starting to vanish," says Carl Wittnebert, TrimTabs director of research. "There are small equity outflows almost every day."

TrimTabs says U.S. stocks funds had outflows of $700 million vs. inflows of $1.4 billion the prior week. And international equity funds saw outflows of $200 million compared to $100 million last week.

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Bond funds saw outflows of $855 million, up from $648 million the prior week, according to TrimTabs.

Taxable bond funds reported net cash outflows of $215 million with outflows from corporate and government bond funds partially offset by inflows of $102 million from international and global debt funds, says AMG. It was the tenth consecutive week of inflows for international and global debt funds.

Money market funds saw outflows totaling $4.9 billion as tax-exempt money market funds saw inflows of $479 million, says AMG.

Municipal bond fund investors pulled out $236 million, says AMG, while high-yield municipal bond funds saw inflows of $91 million.