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 months 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.