New York research firm Strategic Insight reported Friday that mutual fund inflows for the first half of 2004 were about $190 billion, even after "dramatic monthly inflows through April" gave way to a "sharp decline in equity fund inflows" in May.

"If stock markets resume a positive price movement during the second half, 2004 will end up with the highest-ever annual inflows to long-term mutual funds," said Avi Nachmany, the company's director of research.

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