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October 28, 2005 at 08:00 PM
Money flowed into mutual funds that buy foreign stocks again last month, but it continued to move out of those that invest in U.S. equities.
Equity funds that invest primarily overseas saw inflows of $9.09 billion last month, versus inflows of $8.26 billion a month earlier, the Investment Company Institute, the fund industry’s trade group, reported on Thursday. Stock funds that primarily buy U.S. companies suffered outflows of $1.12 billion last month after leaking $1.91 billion in August, the ICI said.
Bond funds saw inflows of $3.73 billion in September, down from inflows of $7.35 billion in August. Hybrid funds, which invest in stocks and bonds, posted net inflows of $1.29 billion last month, versus $1.78 billion in August inflows.
Among fixed-income investments, taxable bond funds saw inflows of $2.72 billion in September, down from $5.86 billion in August. Municipal bond inflows slowed to $1.01 billion from $1.49 billion during that period.
