As 2005 draws to a close, mutual fund investors appear to be favoring aggressive growth stocks, MarketWatch reported.

"Risk tolerance may be slowly rising," said Carl Wittnebert, director of fund flow research at Santa Rosa-based TrimTabs.

More than one-third of the $2 billion invested in U.S. stock funds in the five trading days through Dec. 7 targeted the aggressive growth sector, TrimTabs data showed. Overall, investors continue to favor international funds, while bond funds lost ground. Exchange-traded funds with a global or international flavor were also popular over the period.

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