Cash flows into the nation’s stock mutual funds soared in November, according to data released by the Investment Company Institute (ICI). U.S. stock funds took in $20.71 billion in net new cash for the month, following an inflow of $6.45 billion in October.
World equity funds (U.S. funds that invest primarily overseas) posted an inflow of $11.76 billion in November, versus an inflow of $9.38 billion in October. Funds that invest primarily in the U.S. had an inflow of $8.95 billion in November, compared with an outflow of $2.93 billion in October.
Year-to-date through the end of November, stock funds have received $125.49 billion in net new cash, well below the $167.59 billion figure recorded in the year-ago period.
Long-term funds — stock, bond, and hybrid funds — collectively had a net inflow a net inflow of $20.70 billion in November, compared with a net inflow of $7.59 billion in October.