By Mark Gongloff
- Everett
- Everybody out!
Some on Wall Street may still be hoping for a Santa Claus rally, but mutual-fund investors aren’t hanging around to find out, yanking money out of stock funds in droves and putting them into bond funds and cash.
According to new data from EPFR, global equity funds suffered outflows of $9.5 billion in the week ending December 14, their fourth straight week of net redemptions, while bond funds took in $1.1 billion and money market funds took in $3.2 billion.
Those money-market funds are on their longest inflow streak since a 12-week stretch in the fourth quarter of 2008.
“It looks like some investors are just selling out and waiting for the New Year to see how the land lies,” wrote EPFR Global Research Director Cameron Brandt. “All of the major country and regional equity fund groups, and most of the sub groups, experienced outflows this week.”
