Investors fled mutual funds and ETFs in August

10/2/2011 |

Investors reduced their holdings in U.S. mutual funds more than 3% for a drop of nearly $400 billion in August, the Investment Company Institute reports. Exchange-traded funds fell about 4%, or roughly $45 billion. Meanwhile, investors pumped more than $71 billion into money market funds, after withdrawing almost $120 billion in July.

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