Mutual Funds Rake in Cash for 13th Straight Week

Long-term equity and bond mutual funds saw net inflows for the 13th week in a row, taking in $12.48 billion in the week ended June 10, bringing the total net flows for the past 13 weeks to just under $140 billion, the Investment Company Institute said.

Flows to stock funds were $5.04 billion, up from $4.66 billion in the previous week. In this category, $2.03 billion went to U.S. stock funds, with foreign stock funds taking in $3.01 billion.

Bond funds took in $6.92 billion, down quite a bit from the $8.46 billion they took in for the week ended June 3. Of this category, taxable bond funds saw inflows of $5.46 billion, and municipals saw $1.46 billion.

Assets in money funds continued to decline, losing $62.9 billion, the highest level since last September, when investors yanked $120 billion from money funds in a single week due to the Primary Fund breaking the buck.


For reprint and licensing requests for this article, click here.
Mutual funds Money Management Executive
MORE FROM FINANCIAL PLANNING
Load More