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FRC: Funds Attract Cash

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Cash rolled into stock and bond mutual funds in April.

Net inflow increased 64%, to $42 billion, from about $26 billion in April 2008, according to the Financial Research Corp., Boston.

In March, funds recorded net outflow of $6.3 billion, compared with net inflow of $24 billion in March 2008.

April 2009 flows were positive for most categories of funds.

Corporate bond funds led with about $17 billion in net inflow. They reported $7 billion in net inflow in April 2008, FRC says.

The next highest flows for the month were recorded by equity funds, which took in $8.5 billion more than they lost, improving over net outflow of about $3.7 billion in April 2008.

Net inflow at international-global equity funds fell to $6.9 billion, from $12 billion.

The only funds showing net outflow were international-global fixed income funds. They lost $447 million more than they took in. In April 2008, they reported net inflow of almost $2.8 billion.