“That’s the biggest flow into funds since the first quarter of 2007, when the total was nearly $150 billion. The totals exclude money-market mutual funds,” writes AP staff writer Mark Jewell. “In the latest quarter, bond funds were the bright spot for the nearly $11 trillion U.S. mutual fund industry. About two-thirds of the cash flowing in went to bond funds, with the remaining third going to stock funds. The Standard & Poor’s index rose more than 15 percent during the quarter.”
“Including June, equity funds have now enjoyed three straight months of solid inflows. Investors are tiptoeing back into riskier asset classes,” said Strategic Insight senior research analyst Loren Fox in a statement.