Investors withdrew money from stock mutual funds for the 13th consecutive week during the period ended Oct. 17, although cash was pulled out at a slower pace than during previous weeks. Bond funds continued to attract new money at a rapid clip.
By Associated Press|October 24, 2012 at 11:40 AM
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WASHINGTON (AP) — Investors withdrew money from stock mutual funds for the 13th consecutive week during the period ended Oct. 17, although cash was pulled out at a slower pace than during previous weeks. Bond funds continued to attract new money at a rapid clip.
The movement of cash was in line with the conservative approach that many investors have taken since the financial crisis of 2008. Money has consistently been withdrawn from stock mutual funds and added to lower-risk bond funds.
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