Nov. 26, 2002 — Investors continued to shovel money out of stock mutual funds and into bond funds in October, according to Financial Research Corp.
Domestic stock funds saw outflows of $5.8 billion last month, while bond funds took in $4.7 billion, the Boston-based financial services consulting company said.
American Funds was the top selling complex, netting $1.81 billion. It was followed by Pacific Investment Management Co., which garnered $1.66 billion, and Evergreen Funds, which attracted $1.44 billion.
Pacific Investment’s PIMCO Funds:Total Return Fund/A (PTTAX), the best selling fund since August, continued to hold the top spot last month, when investors poured in $1 billion. Behind it were Evergreen Adjustable Rate/A (ESAAX), which had inflows of $621 million, and PIMCO Funds:Low Duration Fund/A (PTLAX), which took in $563 million.