NU Online News Service, Aug. 28, 2003, 5:45 p.m. EDT – U.S. investors flocked back to stock mutual funds in July, according to Financial Research Corp., Boston.
Stock funds enjoyed a net inflow of $19 billion in July, compared with a $41 billion net outflow in July 2002, FRC reports.
International and global bond funds also benefited. Their net inflow increased to $2.1 billion, from a net outflow of $2.6 billion.
But the more conservative funds lost ground.
Investors yanked $2.5 billion out of corporate bond funds in July, after putting $4.2 billion into the funds in July 2002.
Tax-free bond funds and other government bond funds suffered a net outflow of $6 billion, down from a net inflow of $19 billion.