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