Long-term mutual funds gained another $10.97 billion in sales in the week ended Feb. 24, the Investment Company Institute said. Sales over the past 50 weeks have been consistently positive and near half a trillion, or $487 billion.
Stock funds took in $1.97 billion, with $151 million of that going to U.S. stock funds and $1.82 billion to foreign stock funds, underscoring their continued popularity.
Bond funds got $7.89 billion of new money, $6.82 billion allocated to taxable funds and $1.07 billion to munis. Hybrid funds netted $1.12 billion.
Money market funds lost $29.82 billion in the latest week, bringing total assets in the category to $3.098 trillion, iMoneyNet.com said.