Just how bad were industry flows in February and what is in store for March? While few analysts would dispute that industry flows were significantly down in February from the previous month, the answer to both questions can vary as widely as the information sources used to answer them.

Overall, industry flows amounted to $142 billion, down $111.6 billion from January's $253 billion, according to the Investment Company Institute of Washington, D.C. Stock funds hit a two-year record in outflows, losing $9.9 billion, according to the ICI.

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