Fund Purchases Rise: Net purchases of stock...

Fund Purchases Rise: Net purchases of stock and bond mutual funds continued to rise in June, totaling $5 billion, up from $4.6 billion in May and $2.9 billion in June, 1989, the Investment Company Institute reported. Net purchases are total purchases minus investor redemptions. Growth and income stock funds continued to attract the most dollars. Net purchases of those funds totaled $944 million in June. Purchases of international stock fund shares also were strong.