News Summary: Exit from stock mutual funds in Oct
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.
ETF ATTRACTION: Investors in October deposited a net $2.9 billion into ETFs, which bundle together investments in a particular market index.