-- Investors pull $5.5 bln from U.S. stock funds --
NEW YORK, Jan 21 (Reuters) - Investors pulled a net $5.5
billion from U.S. stock mutual funds in December as stocks gave
back some of their gains in the previous two months, research
and data firm Lipper Inc. said on Tuesday.
The new figures showed that more than $10 billion was
pulled from stock funds last year, making it the first calendar
year since 1988 to end with net withdrawals. In addition to
December, monthly net withdrawals occurred last year from June
to October.
Lipper estimated bond funds took in a net $4.2 billion in
December. For all of 2002, bond funds took in more than $130
billion, breaking a record set in 1986 when they took in about
$120 billion, Lipper said.
Money market funds had outflows of $37.2 billion in
December and for the year had outflows of nearly $50 billion.
Lipper, a subsidiary of Reuters Group Plc <RTR.L>
<RTRSY.O>, and other data firms use various methods to estimate
fund flows.
((Reporting by Cal Mankowski, editing by Ted d'Afflisio, U.S.
Fund Desk. Reuters Messaging:
cal.mankowski.reuters.com@reuters.net; 646-223-6132--))
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21-Jan-2003 18:10:48 GMT
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