July 1, 2002 — Cash moving into stock funds continues to slow.
In May, equity funds took in $4.83 billion in net new cash for the month, down from $12.93 billion in April, according to data released by the Investment Company Institute (ICI).
Of the total, domestic funds had inflows of $2.85 billion in May, compared with inflows of $12.26 billion in April. Stock funds that invest internationally actually saw more cash coming into their coffers with inflows of $1.98 billion in May, compared with inflows of $667 million in April.
Not surprisingly, bond funds flows were strong, taking in $10.60 billion in May, compared with inflows of $7.76 billion in April.