Mutual funds investors pulled $608 million out of funds that hold only US stocks in the latest week, according to data released by Investment Company Institute (ICI).
The outflows in the week ended 24 April 2013 came after the funds attracted $1.97 billion in new cash the prior week.
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However, funds that hold international stocks, raked in $1.91 billion in new cash over the reporting period, up from inflows of $646 million the prior week, ICI report revealed.
Overall, the outflows from funds that hold only US stocks combined with the inflows into funds that hold international stocks led to total inflows of $1.3 billion into stock funds, the least in three weeks.
According to the report, the pullback in demand for US stocks came amid a rebound in US stock markets after a sharp selloff the prior week.
During the reporting period, bond funds saw an inflow of $5.76 billion, up sharply from cash gains of $1.51 billion the prior week.
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By GlobalDataThe report added that hybrid funds, which can invest in stocks and fixed income securities, attracted $1.36 billion in new cash, up slightly from inflows of $1.31 billion the previous week.
