Mutual funds, especially of the equity variety, enjoyed the affections of investors in February, celebrating net inflows for the month.
Fixed income funds, meanwhile, fell in popularity somewhat, but still continued to draw flows.
For the eighth consecutive month, investors were net purchasers of fund assets, adding $45.4 billion to stock and mixed-asset funds, and $17.5 billion to bond funds, according to Lipper data.
The U.S. Diversified Equity Funds macro-group saw inflows of $2.4 billion. But large-cap funds suffered their 45th consecutive month of net redemptions, saying goodbye to another $5.4 billion.
Exchange-traded funds too posted their fifteenth consecutive month of net inflows with $8.1 billion, among which $7.1 billion came from net sales for stock and mixed-asset funds. Bond ETF inflows fell to $1 billion as investors looked to lower their interest rate exposure.
Money market funds missed out on the love, with investors withdrawing a net $36 billion from those funds.
