Posted at: 01/14/2013 5:07 PM
By The Associated Press
News Summary: Cash exits stock funds again in 2012
RISK-SHY: Investors pulled money from stock mutual funds in 2012 for the sixth consecutive year, despite the stock market’s strong performance. A net $90 billion was withdrawn from U.S. stock funds, industry consultant Strategic Insight said on Monday.
ON A POST-CRISIS HIGH: The full-year total was the largest since 2008, when the financial crisis hit. Since 2007, $405 billion has been withdrawn.
BONDS ATTRACT: Bond funds attracted $317 billion in new cash in 2012, the most since 2009. They’ve taken in nearly $1.14 trillion over the last six years, as investors have become more conservative with their money.
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