May 27, 2003 — Investors poured money into stock mutual funds last month while bond fund inflows remained strong.
Domestic equity funds drew $12.2 billion in April, a six-fold increase over March, according to Financial Research Corp., which tracks fund flows.
Bond funds raked in $9 billion last month, led by those that invest in corporate bonds, which netted approximately $8.9 billion, the Boston-based company said. By comparison, bond funds attracted about $10.5 billion in March.
American Funds topped all fund complexes in sales last month, garnering $5.1 billion, as three of its funds led sales of individual funds.