Fund Exodus Continues as Risk Is Shunned

More money was pulled out of mutual funds than put into them during the month of May, according to the Investment Company Institute, an industry research firm. Investors took $11.98 billion out of long-term funds, including stocks, bonds and hybrid funds (a combination of stocks and bonds), in May, marking the first time since March 2009 that more money was withdrawn than committed to the funds.

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