Friday, February 27, 2004
Investors Pour $43.8B Into Stock Funds in January
Investors added a net $43.8 billion to U.S. stock mutual funds in January, which helped push total mutual fund assets to a record $7.54 trillion at month-end, the Investment Company Institute (search) said Friday.
Bond funds took in a net $496 million in January, according to the ICI, a Washington, D.C.-based trade group for the mutual fund industry.
In contrast, money market funds had outflows of $19.8 billion.
The January inflows for stock funds were the third largest on record, surpassed only by the $55.6 billion the funds gathered in February 2000 and $44.5 billion in January 2000.
The previous record for total industry assets was $7.47 trillion in August 2000.
The January inflows for stock funds came as a stock market rally...
Investors added a net $43.8 billion to U.S. stock mutual funds in January, which helped push total mutual fund assets to a record $7.54 trillion at month-end, the Investment Company Institute (search) said Friday.
Bond funds took in a net $496 million in January, according to the ICI, a Washington, D.C.-based trade group for the mutual fund industry.
In contrast, money market funds had outflows of $19.8 billion.
The January inflows for stock funds were the third largest on record, surpassed only by the $55.6 billion the funds gathered in February 2000 and $44.5 billion in January 2000.
The previous record for total industry assets was $7.47 trillion in August 2000.
The January inflows for stock funds came as a stock market rally...
