The first quarter’s health inflows pace slightly exceeded the prior quarterly record of $134 billion reached in the first three months of 2000. Even more impressive was the record was set even with a slowdown during March, which saw equity fund inflows slow to $30 billion, according to a news release.
These totals include equity and balanced open-end funds, closed-end funds, funds underlying variable annuities, and index mutual funds including exchange-traded funds (ETFs), the research firm for the mutual fund and wealth management industry said in the release.
“These record pace of stock fund inflows, even during periods of stock price retreat, continues to reflect optimism in the American and global economic expansion, as well as sustained confidence in the mutual fund vehicle” commented Avi Nachmany, Strategic Insight’s Director of Research in the release.
Bond funds also noted inflows during the first quarter of 2004. During the latest quarter, bond fund inflows reached to a modest $11 billion, the majority of which occurring during March, when bond fund inflows were triggered by a temporary decline of interest rates.
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