News Summary: Exit from stock mutual funds in Oct

AP News
Posted: Nov 14, 2012 5:37 PM

STOCK FUND WITHDRAWALS: Investors withdrew cash from stock mutual funds in October, the eighth straight month that withdrawals have exceeded deposits. A net $15 billion flowed out of U.S. stock funds, consultant Strategic Insight said on Wednesday. Year-to-date flows out of stock funds total nearly $57 billion.

BOND APPEAL: Investors added nearly $30 billion to bond mutual funds, which have attracted new cash for 14 consecutive months. Year-to-date, bond funds have attracted $271 billion.

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ETF ATTRACTION: Investors in October deposited a net $2.9 billion into ETFs, which bundle together investments in a particular market index.