News Summary: Exit from stock mutual funds in May

AP News
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Posted: Jun 12, 2012 4:18 PM
News Summary: Exit from stock mutual funds in May

CAUTIOUS INVESTING PERSISTS: Investors withdrew $4.8 billion more than they deposited into U.S. stock mutual funds in May, industry consultant Strategic Insight said on Tuesday. It's the third consecutive month of net withdrawals. Year-to-date, $7.4 billion has been pulled out.

FOREIGN APPEAL: U.S. funds investing in foreign stocks attracted $4.9 billion in May. However, that was down from the net $6.5 billion added to foreign stock funds in April. Year-to-date, foreign funds have attracted nearly $28 billion.

BONDS STILL ATTRACTIVE: Investors deposited a net $14.3 billion into bond funds in May, for a year-to-date total of nearly $134 billion.