not good for bearish case???
DJ Stock Mutual Funds Saw $4.36B Outflows Tue-Wed - TrimTabs
12/03/2002
Dow Jones News Services
(Copyright © 2002 Dow Jones & Company, Inc.)
By Michelle Rama
Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--Investors pulled $4.36 billion out of stock-based mutual funds Tuesday through Wednesday, according to TrimTabs.com Investment Research.
By contrast, investors added $159 million into bond-based mutual funds during the same period, TrimTabs said.
Domestic stock funds accounted for the bulk of outflows from equity funds, as investors removed $2.37 billion. International stock funds saw outflows of $1.99 billion.
Among domestic stock funds, growth fund redemptions were $1.04 billion and aggressive growth fund outflows were $811 million. Meanwhile, growth & income funds lost $517 million in investments.
The Dow Jones Industrial average rose 0.92% during the same period, and the tech-heavy Nasdaq Composite Index gained 0.4%. The Standard & Poor's 500 Index added 0.64%.
In bond funds, government and Ginnie Mae funds saw inflows of $67 million, while municipal bond funds investments rose $46 million. High-yield bonds added $41 million, and hybrid funds, which invest in both stocks and bonds, took in $14 million. Corporate bond funds, however, lost $9 million in investments, according to TrimTabs.
TrimTabs.com, Santa Rosa, Calif., computes its estimates by directly tracking the cash flow of 543 stock funds and 321 bond funds through a computer model. The results are meant to approximate the inflow and outflow for the much larger set of funds - 3,140 stock funds and 2,610 bond funds - tracked by the Investment Company Institute, an industry trade group in Washington.
-By Michelle Rama, Dow Jones Newswires; 201-938-4046;
michelle.rama@dowjones.com
(END) DOW JONES NEWS 12-03-02
01:36 PM
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