July was the third consecutive month of outflows from U.S. equity mutual funds, according to Morningstar.
The increased pace of outflows was likely a symptom of jittery markets. Morningstar estimates that $11.4 billion flowed from equity funds in July, up from $8.3 billion in June and $6.9 billion in May.
Overall fund flow was positive in July, at $14.4 billion. But that total is noticeably lower than previous months, according to the monthly report.
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