Interest in bond funds slumped in early March to their lowest level this year, according to the latest statistics from the Investment Company Institute. For the week ended March 13, investors steered a paltry $1.64 billion into bond funds, a whopping 74% drop from the $6.42 billion they poured into the funds a week earlier.
Investors were far more generous with equity funds, sending an estimated $3.86 billion their way. Of the $3.86 billion, $3.01 billion went to global equity funds with the remaining $849 million going to U.S. funds.
Hybrid funds, which invest in both stocks and fixed income securities, drew an estimated $2.07 billion, down 17% from $2.50 billion the week before.
All told, mutual funds posted a lackluster week, drawing an estimated $7.57 billion, the smallest weekly inflow so far this year.
The weekly fund flow estimates are derived from data covering more than 95% of industry assets, according to ICI. The statistics cover long-term mutual funds, those the ICI defines as investing in long-term instruments.
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