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Funds Sweep Up Cash

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Dec. 12, 2003 — The scandal swirling around the industry apparently has done nothing to deter investors from putting money into mutual funds this month, figures compiled by Investment Research Inc. show.

Stock and bond funds, and those that invest in both types of securities, all recorded inflows in the week ended December 10, the company said.

Domestic stock funds netted $4.3 billion, compared to inflows of $1.6 billion a week earlier. Funds that invest in foreign stocks took in $500 million, an increase of $400 million over the previous seven-day period.

Bond fund inflows eased to $800 million from $1.2 billion a week earlier.

Hybrid funds, which hold equities and fixed-income securities, attracted $900 million, compared to inflows of $1.2 billion in the previous week.