Equity funds saw greater losses in Q1 than all of 2008
Between price declines and investor redemptions, the value of stock mutual funds and ETFs held by U.S. investors declined by $3.6 trillion during the first quarter.
Why it matters: Not only is the number a record high for a quarter, it's higher than any full year on record, according to data from Lipper Refinitiv.
By the numbers: The decline in equity fund value during the quarter is over $700 billion more than was seen in 2008 during the Great Recession.
- The average equity fund posted a 22.3% decline during the quarter, data show.
On the other side: Institutional and retail money market funds drew $702 billion of inflows during the quarter, more than the inflows for the entire year in 2008.
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