Reuters on the last week’s fund flows:
Mutual fund investors flooded stockpickers with redemption orders during the latest week, cashing out the most money in five years, Investment Company Institute data showed on Wednesday.
The investors pulled $16.9 billion from stock mutual funds in the seven days through Oct. 19, more than in any other week since August 2011, the trade group’s data showed.
By contrast, stock exchange-traded funds took in $2.4 billion. ETFs mostly “passively” track market indexes, while the mutual funds largely employ “active” managers who pick stocks.