BOSTON (AP) — Investors pulled money from stock mutual funds in 2012 for the sixth year in a row, despite the stock market's strong performance. Bond funds attracted the most cash since 2009.
Industry consultant Strategic Insight said on Monday that a net $90 billion was withdrawn from U.S. stock funds last year, including $26 billion in December — while the Standard & Poor's 500 returned 16 percent. Stock fund withdrawals have exceeded deposits for 10 straight months. The total withdrawn last year was the most since 2008, when the financial crisis hit.
Bond funds attracted $317 billion last year. More than $1.1 trillion has been added to bond funds since 2007.
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