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March 05, 2004 at 07:00 PM
Feb. 27, 2004 — Money continued to flow into stock mutual funds last month as investors focused on rising equity prices and not the market timing scandal.
Domestic stock funds took in $31.8 billion in January after netting $27.8 billion a month earlier, Financial Research Corp. reported. Funds that invest in international stocks saw inflows increase to $13.4 billion from $10.7 billion.
The figures include investments in exchange-traded funds, which trade like stocks. Prior to this month, FRC did not include inflows into ETFs in its monthly statistics.
Bond mutual funds and ETFs netted $855 million last month after suffering outflows of about $1.4 billion in December. Corporate bond funds took in money in both months, but investors pulled money out of products that invest in government and municipal bonds in January and December.
