Investors poured money into long-term mutual funds for the 47th straight week, taking in $7.07 billion in the week ended Feb. 3, the Investment Company Institute said. Sales in the period, now nearing a year, now total $470 billion.
In the latest week, investors pulled $1.48 billion from stock funds, with a split of $2.23 billion in outflows from U.S. stock funds and $746 million of inflows to foreign stock funds. The week before, stock funds took in $810 million.
Bond funds had inflows of $8.55 billion in the latest week, up from the $7.27 billion they netted the week before. Investors put $7.15 billion into taxable funds and $1.39 billion into municipal funds.
The popularity of hybrid funds fell, with investors entrusting $6 million to this category in the latest week, down considerably from $570 million the previous week.
Investors redeemed a net $7.65 billion from money market funds, bringing down total assets to $3.163 trillion, according to iMoneyNet.