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Fund investors exit stock funds 6th year in a row

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.

By Mark Jewell | Updated on January 14, 2013

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Industry consultant Strategic Insight said on Monday that a net $90 billion was withdrawn from U.S. stock funds last year, including $26 billion in December — while the Standard & Poor’s 500 returned 16 percent.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 The total withdrawn last year was the most since 2008, when the financial crisis hit.

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