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Frustrated by more big losses, investors yanked out more from mutual funds in February than they put in, according to data from Lipper.
It’s the first time the industry has suffered net redemptions since September. Investors pulled out a net $17.8 billion from mutual funds, excluding exchange-traded funds.
Much of the damage centered on stock funds, as investors shifted from risky assets to safer bonds. The S&P 500 index suffered its worst February since 1933, frightening investors, says Tom Roseen, research manager for Lipper.
