BOSTON (AP) — Mutual fund investors retreated from stocks in September as the market continued to decline, capping the biggest quarterly withdrawal from stock funds since the financial crisis in late 2008.
Investors withdrew a net $15.3 billion from U.S. stock mutual funds last month, industry consultant Strategic Insight said on Wednesday.
The exit was slower than in August, when investors withdrew a net $21.4 billion. That was the most volatile month in a five-month run of falling stock prices, including a 7 percent decline in September in the Standard & Poor's 500 index.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
