NU Online News Service, Dec. 27, 3:09 p.m. – Financial Research Corp., Boston, says U.S. mutual fund asset flows recovered nicely in November.
Investors in “long-term” mutual funds– funds that invest in stocks and bonds — put in $15 billion more cash in November than they took out. That compares with a net inflow of $14 billion for October, and a net inflow of $3.2 billion for November 2000.
Cautious and uncertain investors put $50 billion more in money market funds in November than they took out. Net money market inflow increased from $38 billion in November 2000, when investors were more bullish on the market. But inflow has fallen from $76 billion in October, when investors and financial services companies were still reeling from the shock of the Sept. 11 attacks.
Funds of all kinds attracted $66 billion more in assets than they lost in November, down from $90 billion in November 2000, but up from $41 billion in October.