According to research by AMG Data Services for the week ending May 7, U.S. junk bond mutual funds brought in $1.3 billion, extending an already record-breaking rally.

When speaking to Reuters, Joel Friedman, director of funds research for Standard & Poor’s, stated, "Investors are looking for a better alternative. They don’t want to get less than 1% in a money market fund. Equities have been risky and negative for a while, so they’re looking for alternatives and are willing to accept a higher degree of risk."

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.