Most of the 414 mutual funds closed in the past year bought stocks

09/12/2010 | USA Today

Investors fleeing equities have withdrawn $51 billion from stock funds and put almost $94 billion into bond funds since May, according to data from the Investment Company Institute. During the past 12 months, 414 mutual funds have closed or been merged into another fund, and most of the funds that disappeared were stock funds, Morningstar said.

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