Net flows into equity and balanced funds totaled about $11 billion in October as stock and bond prices began to rebound, fund research firm
And if equity markets maintain their current levels through the end of December flows will exceed $60 billion for the year, "a remarkable amount considering persistent economic, employment and personal anxiety," the firm said in a statement.
Flows for bonds surpassed $12 billion in October, including more than $10 billion into taxable funds. The firm estimates that more than $100 billion in net new investments will flow into bond funds for the year, creeping toward records set in the early 1990s.
Money market flows, meanwhile, are expected to exceed $75 billion in October, the firm reported. And, as in recent months, 90% of October flows were channeled into taxable money market funds. Those vehicles have attracted just less than $400 billion in new investments this year, the firm said.
