Long-term equity and bond mutual funds took in $13.84 billion in the week ended Oct. 21, bringing a 32-straight-week run of inflows to a total of $337 billion, the Investment Company Institute said.
Stock funds experienced inflows for the first time in the past two months, netting $1.68 billion after losing $3.4 billion to outflows the week before. Foreign stock funds continued to be popular among investors, receiving $2.9 billion in the latest week, while investors redeemed $1.22 billion from U.S. stock funds.
Still, that didn’t stem investors’ continued unbridled enthusiasm for bond funds, with this category taking in $11.18 billion, up from the $8.8 billion bond funds netted the previous week. And hybrid funds received $979 million worth of investments, down from $1.38 billion the previous week.
Reversing a pattern of the past two months when they have lost money, money market funds netted $3.22 billion in the latest week, according to iMoneyNet.
The ICI also said that in the second quarter, retirement assets in the U.S. rose 7.4%, or $1 trillion, to $14.4 trillion. IRAs hold the biggest portion of that pie, $3.7 trillion, followed by 401(k)s and other defined contribution accounts, which hold $3.6 trillion.