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Money Management Executive

Vanguard Total Stock Market Index Leads Sales

April 28, 2003, 1:00 a.m. EDT 1 Min Read

Stock funds regained popularity among investors who had preferred bond funds during the stock slump, with a stock index fund run by the Vanguard Group becoming last month’s best-selling U.S. mutual fund, Reuters reports.

The Vanguard Total Stock Market Index fund took in an estimated $1.6 billion in net new money in March amid a rebounding stock market, according to Boston research firm Financial Research Corp. The $25.7 billion Vanguard fund, one of the largest U.S. stock funds, tracks a gauge of the entire U.S. stock market.

The Pimco Low Duration fund, a bond fund, was the second best-selling fund, taking in $771 million.

Last year's champion, the Pimco Total Return Fund, a bond fund and the largest U.S. mutual fund, took in $621 million in March.

Bond funds saw $140.49 billion net money inflow last year, when stock funds suffered an outflow of $27.1 billion.

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