April 29, 2004 — Net new cash into stock funds dropped in March as they took in $15.8 billion, versus $26.2 billion in February, according to data from the Investment Company Institute.
Among stock funds, the ICI said aggressive growth funds had an outflow of $1.08 billion, versus an inflow of $1.68 billion in February. However, all other stock fund categories recorded inflows.
Year to date through the end of March, stock funds have received $85.0 billion in net new cash, versus a net outflow of $11.1 for the comparable period in 2003.
Long-term funds — that is, stock, bond, and hybrid funds — collectively had a net inflow of $28.28 billion in March, compared with an inflow of $32.75 billion in February.
Bond funds grew richer in March, taking in $7.66 billion versus $1.52 billion in February. Taxable bond funds had an inflow of $7.39 billion in March, while municipal bond funds had an inflow of $264 million.