BlackRock sees $13 billion withdrawal from long-term funds
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BlackRock Inc. faced a net withdrawal of $13 billion from its long-term investment funds, marking the first time this has happened since COVID-19 began in 2020. This suggests that investors are choosing to keep their cash in money-market funds or specific bond strategies as interest rates stay high. The outflows from long-term funds, such as mutual funds and exchange-traded funds (ETFs), were notably lower than the $50 billion inflow Bloomberg analysts had predicted.