Equity and bond mutual funds alike started off the new year with a bang, bringing in $86 billion in fresh assets. This combined with $29 billion flowing into exchange-traded funds was by far the largest one-month gain on record for mutual funds, according to Morningstar.

The signal event: $19 billion flowing into domestic stock funds. Why? Because investors took $610 billion out, from 2007 through 2012, according to Investment Company Institute statistics. But whether this indicates the beginning of a "Great Rotation" away from bond funds remains to be seen.

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