After Ben S. Bernanke's, Federal Reserve Chairman, statement about his idea to end central bank's asset acquisitions, investors withdrew around US$60 billion. The money was retracted from US bond funds. The markets today continued to be rattled about the plan.

The move of the investors suggested what was coming up for asset managers. The Chairman's strategy would take away what the investors were dependent on. The central bank would scale back its US$85 billion monthly buy of bonds and mortgage guarantee.

Washington-headquartered Investment Company Institute stated yesterday that by June 26, about U$28.1 billion in net bond funds redemptions transpired.

In May, Casey, Quirk & Associates LLC, a consulting firm, advised money managers who relied on bonds to get out of the unstable stock markets. It said that investors would shift US$1 trillion away from the customary fixed-income strategies.

A consultant based in East Greenwich, Rhode Island, Geoff Bobroff,  said in a telephone interview, "The increase in rates has caused investors to reach the reality that bonds are not a one-way street, which is what fixed income has been for the most part over the past five to seven years."