July 1, 2003 — The stock market’s recent rally continued to encourage investors to put money into stock funds last month, according to Financial Research Corp.
Domestic equity funds took in a net $13.1 billion in May, adding to the $12.2 billion they attracted in April. Bond funds received about $7 billion in new money in May, down from $8.8 billion the month before.
American Funds topped all fund companies with net inflows of an estimated $5.2 billion in May. It’s Growth Fund of America/A (AGTHX) led all funds with inflows of $963 million.