BOSTON (AP) -- The newfound confidence that investors showed at the start of the year held up through February.
Stock mutual funds continued to attract cash, although at a slower pace than in January. Bond funds also drew new money, putting the industry on track to potentially set a quarterly record for overall fund flows.
Industry consultant Strategic said that a net $6 billion was deposited into U.S. stock funds in February. That's down from $26 billion the previous month. Withdrawals had exceeded deposits for 10 months in a row before January.
Bond funds have consistently attracted cash in recent years, and that trend continues in 2013. Net deposits into bond funds totaled $22 billion last month, down from $42 billion in January.
KKTV firmly believes in freedom of speech for all and we are happy to provide this forum for the community to share opinions and facts. We ask that commenters keep it clean, keep it truthful, stay on topic and be responsible. Comments left here do not necessarily represent the viewpoint of KKTV 11 News.
If you believe that any of the comments on our site are inappropriate or offensive, please tell us by clicking “Report Abuse” and answering the questions that follow. We will review any reported comments promptly.powered by Disqus