Investors dug deeper into their pockets pver the past week, adding to their holdings of funds that hold non-U.S. stocks. But they continued to pull money from domestic stock funds.
Investors added$1.85 billion into all equity mutual funds during the week ended Wednesday, net of redemptions, according to TrimTabs Investment Research of Santa Rosa, Calif.. That was up from $1.64 billion the previous week.
Equity funds that invest primarily in U.S. stocks saw a net $2.39 billion walk out the door, up from $87 million the previous week as stock prices slid.
Dow Jones Industrial Average
closed at 13,675.25 Wednesday, down from 13,892.54 on Oct. 17.
Despite the latest outflows, Conrad Gann, president and chief operating officer of TrimTabs, says "we're still looking an inflow for October of $5.5 billion" for U.S. equity funds.
Equity funds that invest primarily in non-U.S. stocks took in $539 million, althought that was down from $1.72 billion during previous week.
Bond funds pulled in $2.05 billion, down slightly from $2.24 billion the previous week. Hybrid funds, which invest in both stocks and bonds, had inflows of $1.26 billion, compared with inflows of $1.38 billion during the previous week.
TrimTabs said exchange-traded funds that invest in U.S. stocks took in $43 million during this past week, only partially reversing the previous week's outflow of $2.65 billion. ETFs that invest in non-U.S. stocks took in $995 million, down from $1.92 billion during the previous week.