According to @EricBalchunas, equity mutual funds posted $367 billion in net outflows in July, a new monthly record, with roughly $200 billion tied to a mutual-fund-to-CIT move inside "Vgrd," which he noted is still money leaving the mutual fund structure, source: @EricBalchunas, X, Sep 9, 2025. He added that despite the historic outflows, stocks kept rising and offset almost all of the withdrawals, source: @EricBalchunas, X, Sep 9, 2025.