April 26, 2004 — The flow of money into stock mutual funds eased in March as investors increased their bond investments.
Domestic stock funds, including exchange-traded funds, took in $19.8 billion last month, versus $22.7 billion in February, according to Financial Research Corp. Bond funds attracted $4.2 billion in March, an increase of about $770 million over the previous month.
American Funds continued as the top-selling fund complex, netting $9.1 billion in new money. The company’s Growth Fund of America/A (AGTHX) led all funds with inflows estimated at $1.9 billion.