News Summary: Exit from stock mutual funds in Nov.
STOCK FUND WITHDRAWALS: Investors withdrew cash from stock mutual funds in November, the ninth straight month that withdrawals have exceeded deposits. A net $16 billion flowed out of U.S. stock funds, consultant Strategic Insight said Thursday. Year-to-date flows out of stock funds total $70 billion.
BOND APPEAL: Investors added $23 billion to bond mutual funds, which have attracted new cash for 15 consecutive months. Year-to-date, bond funds have attracted $305 billion.
STRONG PERFORMANCE: Stock fund returns averaged more than 13 percent through November, with bond fund returns averaging more than 8 percent, according to Strategic Insight.