Outflows from long-term mutual funds jumped to $16.9 billion for the week ended Aug. 3, from $9.6 billion the prior week and $4.5 billion for July 14-20, according to a report from the Investment Company Institute.
Equity funds accounted for the bulk of the outflows, with $13 billion for the latest week, up from $9.3 billion for the prior week.
However, outflows from hybrid funds and bond funds also accelerated. For the latest week, hybrid funds lost $1.1 billion, up from $73 million for the prior week. Bond funds saw outflows of $2.9 billion, up from $223 million the week before.