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Bond, Balanced Funds Top Sellers in August

By Staff Writer

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Oct. 1, 2002 — The top-selling fund in August was PIMCO Funds:Total Return Fund/A (PTTAX), which took in $1 billion, according to Financial Research Corp. It was followed by Vanguard GNMA (VFIIX) ($906 million), and American Balanced Fund/A (ABALX) ($574 million).

Investors poured $3.2 billion into American Funds, making it the top-selling fund complex in August. Trailing was Vanguard Group, which took in $2.6 billion. Nations Funds attracted $1.82 billion to take third place, edging out PIMCO funds, which netted $1.79 billion.

Stock funds continued to leak money in August, but at a much slower rate than the previous two months, Financial Research Corp. reported.

Domestic stock funds suffered net outflows of $849 million in August, down sharply from $41.6 billion in July and $14.1 billion in June. Bond funds, meanwhile, netted $15.5 billion in August, FRC said.