Equity funds continued to plow ahead in July, but both bonds and money market funds were hurting in the month, marking notorious firsts for both in recent history, according to data from New York-based Lipper.
Equity funds pulled in $21 billion during the month, following the $19.5 billion added in June. This month's inflows were among the 10 best months in the last five years. It also marked the second-highest inflow amount for the month of July, behind only the $28 billion gathered in 1997. The $21 billion represented an impressive 0.71% of current assets in equity funds, rivaling the 0.76% achieved during April 2000.