Equity mutual fund assets posted a $43.76 billion inflow in January, up from the $14.18 billion inflow in December, according to the
That marks the largest monthly inflow to stock funds since their $55.61 billion inflow in February 2000 and the third largest monthly intake in history. Overall, mutual fund assets rose $122.3 billion, or 1.3%, to a record $7.536 trillion in January, the ICI said in a press release. Its previous high was $7.467 trillion back in August 2000.
The trade associations monthly poll is based on a collection of data from 8,121 mutual funds, which includes funds actual assets, sales and redemptions.
Bond funds brought in a mere $496 million in January, as compared to $3.25 billion in December. Within that category, taxable bond funds garnered $718 million while municipal bond funds lost $222 million. Money market funds had an outflow of $19.77 billion, compared with $22.62 billion the previous month.
