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March 30, 2005 at 07:00 PM
March 29, 2005 — Sales of stock mutual funds that invest overseas outpaced those that focus on the U.S. for the third straight month in February.
International stock mutual funds and exchange-traded funds raked in about $21.5 billion in assets in the second month of this year, while domestic offerings attracted $5.8 billion, and bond funds netted $979 million, according to Financial Research Corp.
American Funds continued to dominate sales among big U.S. mutual fund complexes, drawing inflows of $7.9 billion. The company’s Capital Income Builder Fund/A (CAIBX), which invests in domestic and foreign stocks and bonds, was the top selling fund, taking in an estimated $1.6 billion.
