The Investment Company Institute is the national association ofU.S.investment companies, including mutual funds, closed-end funds, exchange-traded funds (ETFs), and unit investment trusts (UITs). Members of ICI manage total assets of $11.82 trillion and serve nearly 90 million shareholders. Flow estimates are derived from data collected covering more than 95 percent of industry assets and are adjusted to represent industry totals.
Mutual fund investors once again pulled money from every asset class last week, including a whopping $23 billion from domestic equity funds. Apparently, the mattress is becoming the destination of choice for investor’s money.