Stock Funds Extend Streak of Net Inflows
Investors added a net $26.2 billion to stock mutual funds in February, extending a string of monthly inflows, the industry’s chief trade group said Tuesday.
The February inflow was smaller than the $43-billion stock funds took in during January, according to the Investment Company Institute in Washington. January activity normally is boosted by contributions to retirement plans made at the start of each year.
In general, investors in recent months have been favoring stock funds as the market has continued to rebound. But key market indexes stalled out in late January and early February.
Bond funds took in a net $1.5 billion last month compared with an outflow of $318 million in January. Money market funds had a net outflow of $21 billion in February after an outflow of $19.8 billion in January.
Net cash flows measure new purchases minus redemptions.