Mutual fund outflow of $320 billion sets record

In one of the biggest flights to safety in the industry's history, mutual funds recorded a net $320 billion outflow in 2008. But in December, investors put a net $23 billion into equity funds and withdrew only $3.5 billion from bond funds, a much smaller outflow than bond funds experienced earlier in the year. This suggests that the trend may have reversed in the closing weeks of the year.

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