Long-term mutual funds continued to attract assets, netting $406 million in the week ended Feb. 10, brining the past 48 weeks of sales to a total of $471 billion, the Investment Company Institute said.
Stock funds lost $5.6 billion of assets, far more than the $1.48 billion they lost the previous week. U.S. equities had outflows of $5.16 billion, and foreign stock funds, $447 million.
But investors continued their love affair with bond funds, pouring $6.8 billion into fixed income mutual funds, although that was down from the $7.75 billion they received the previous week.
Hybrid funds, meanwhile, lost $793 million, after gaining $5 billion the previous week, and assets in money market funds dropped $39.66 billion for a balance of $3.124 trillion, iMoneyNet said.