Equity Funds Reap Inflows for 12th Straight Week

Equity funds took in inflows for the 12^th straight week, netting $4.63 billion in the week ended June 3, the Investment Company Institute said. In the previous week, they netted $1.59 billion.

The inflows are significant, as earlier in the year, investors were yanking as much as $10 billion from the funds every week.

Of the inflows to stock funds, $2.83 billion went to funds that invest in U.S. companies, while foreign equity funds took in $1.8 billion.

Stock and bond funds combined took in $13.6 billion. Bond funds reaped inflows of $8.43 billion, up from $6.04 billion. In this category, taxable funds saw $7.13 billion in inflows, while municipal funds saw $1.3 billion in inflows.

Money market funds continued to see outflows, of $6.55 billion, ending the week with a total of $3.695 trillion. The seven-day yield on taxable money market funds is now only 15 basis points, a record low.