NU Online News Service, March 27, 2003, 4:37 p.m. EST – Stock and bond mutual funds attracted $10.4 billion more cash in February than they lost, but net inflow fell from $14.9 billion in February 2002, according to Financial Research Corp., Boston.
Investors rushed to put their money in anything other than domestic stock funds.
Domestic stock funds attracted $7.3 billion in February 2002 but lost $6.8 billion in February 2003.
Government and corporate bond funds recorded a total net inflow of $14.3 billion, up from $7 billion in February 2002.
American investors also began showing more interest in international funds. Net inflows increased to $1.1 billion at the international funds, up from a net outflow of $1.6 billion in February 2002.
Money-market funds had a terrible February. They lost $42 billion more last month than they attracted. The outflow amounted to only $11.6 billion in February 2002, FRC says.