Investors turn to mutual funds: ICI
By Lauren McNitt
ProWEB Wire (Industry News)
Investors favored mutual funds in early February, according to the Investment Company Institute.
Investors put about $13.17 billion into equity, bond and hybrid mutual funds in the week ended Feb. 8. This is a 65 percent increase from the $7.96 billion of inflows into mutual funds reported the week before, and the largest weekly inflow posted this year.
Bonds received the highest inflows, posting an estimated $3.62 billion for the week. They were almost evenly divided between U.S. and foreign stock funds. U.S. equity funds saw $1.92 billion in new investments, rebounding from a loss of $1.81 billion the week before. Foreign equity stocks posted $1.7 billion in inflows.
Investors put $2.49 billion in hybrid funds, which invest in both stocks and fixed income securities.