Stock Fund Inflows Seen Lower After May Gains
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Stock mutual funds took in a net $17.3 billion in new cash in May, but investors appear to have taken a more cautious tack about buying funds in June.
The May total, reported Thursday by the Investment Company Institute (the funds’ chief trade group) was down modestly from $19.2 billion in April.
Stocks bounced back in April and May, encouraging investors. But the market has struggled since late May. That has dimmed stock-fund inflows in June, many fund companies said.
Vanguard Group said June stock fund inflows are $1.9 billion compared with May’s $2.5 billion. Fidelity Investments said stock fund inflows in June are “basically flat” after a $2.6-billion inflow in May.
In May, bond funds and money market funds resurged in popularity with investors. Taxable and tax-free bond funds took in a net total of $6.1 billion. Money market funds took in $35 billion, but that was entirely from institutional investors.
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