Dec. 24, 2002 — Reversing a five-month-old trend, investors put more money into U.S. stock mutual funds than they took out in November, Financial Research Corp. said.
Domestic stock funds saw inflows of $5.4 billion; overall, stock and bond funds netted $12.1 billion, the Boston-based financial services consulting company said.
American Funds was the top selling complex last month, garnering $3.2 billion, while its Growth Fund of America/A (AGTHX) was the best selling fund, taking in an estimated $647 million.
Among fund companies, Fidelity Investments, with inflows of $2.15 billion, and Vanguard Group, with $1.9 billion, trailed American Funds.
PIMCO Total Return Fund/A (PTTAX), which had been the hottest selling fund since August, fell to No. 2 in November, when it took in $616 million. It was followed by Income Fund of America/A (AMECX), which netted $581 million.