US mutual fund outflows surge after downgrade -ICI | Reuters: "Wed Aug 17, 2011 1:12pm EDT
NEW YORK, Aug 17 (Reuters) - U.S. mutual funds had the
largest outflows in nearly three years in the wake of the
downgrade of the U.S. credit rating by Standard & Poor's, data
from the Investment Company Institute showed on Wednesday.
Investors pulled a net $40.3 billion out of those funds in
the week ended Aug. 10, the largest weekly withdrawal since
early October 2008, soon after the collapse of Lehman
Brothers."
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