Advertisement

Small investors removed funds from the nation’s...

Small investors removed funds from the nation’s banking system--particularly savings and loans--at the rate of $6 billion a week late last month, according to information gathered for an investment survey. Since early January, investors pulled nearly $19 billion from commercial banks and thrifts, according to data provided to Money magazine for its Small Investor Index. Savings and loans lost 2.5% of their savings and money market account assets, the survey found. Much of this money flowed to money market funds offered by mutual fund companies and brokerages, the magazine said.

Advertisement
Advertisement