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January 15, 2013

Investors continue to flee stock funds

By MARK JEWELL
AP Personal Finance Writer

BOSTON — 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, another illustration of how conservative investors have become with their money since the financial crisis.

A net $90 billion was withdrawn from U.S. stock mutual funds last year, industry consultant Strategic Insight said on Monday. The total included $26 billion pulled out in December, the tenth month in a row that withdrawals have exceeded deposits.


 
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