Feb. 26, 2003 — Investors returned to stock mutual funds last month while their love affair with bonds continued.
Domestic stock funds took in an $1.4 billion in January, after suffering outflows of $4.2 billion the previous month, according to Financial Research Corp. Overall, stock and bond funds netted $14.5 billion last month, led by funds that invest in corporate bonds, which attracted $6.8 billion.
American Funds took in $3.8 billion last month, making it the the top selling complex. The company’s Growth Fund of America/A (AGTHX), a domestic stock fund, was the second best selling fund in January, netting $748 million, while its Capital Income Builder Fund/A (CAIBX), which invests in foreign stocks, ranked fifth with inflows of $648 million.