Oct. 24, 2002 — Investors fled stock mutual funds for the fourth consecutive month in September and continued to seek safety in bond funds, according to Financial Research Corp.
Domestic stock funds suffered net outflows of $9.5 billion last month, while bond funds took in $12.8 billion, the Boston-based financial services company estimated.
Pacific Investment Management Co. was the top-selling fund complex last month, garnering $2.7 billion, and the PIMCO Funds:Total Return Fund/A (PTTAX), with inflows of $1.7 billion, was the best selling fund.