November Flows into stock funds increased significantly from the prior month, totaling $14.9 billion while total assets increased 4.7% to $6.9 trillion, according to the Investment Company Institute of Washington, D.C. October net new flows totaled just $923 million, the ICI said.
Overseas stock funds rebounded in November, attracting $1.9 billion in net new assets, a reversal of the $4.3 billion they lost in October. Domestic funds garnered $13.1 billion, up from the $5.2 billion they generated in October, the ICI said.
Conversely, bond fund flows were nearly halved in November, dropping to approximately $6.7 billion, down from the $13.5 billion they attracted in October. Money market fund flows also dropped, falling from $73.9 billion in October to $60.2 billion in November, according to the ICI.
The slower month in bond and money market flows yielded a drop in overall net flows. Flows fell from $89.8 billion in October to $82.7 billion in November, according to ICI data.