According to an FRC news release, moderate allocation funds enjoyed a $4 billion inflow over the month, bringing their take to $19.7 billion year to date, compared with $24.4 billion in that category for all of 2004. Overall, investors added $8.1 billion to stock and bond mutual funds with intermediate bond funds adding $3.5 billion in April and large-cap value equity funds tacking on $2.5 billion.
Meanwhile, investors fled small-cap US stock funds, FRC said. International and global funds led inflows with $8 billion, followed by corporate bonds funds with $1 billion, according to the data.
American Funds continued to capture investors’ cash, FRC data showed. The firm’s Capital Income Builder Fund and Capital World Growth & Income Fund were April’s best sellers. Each raked in $1.4 billion in new money while American’s Growth Fund of America took in $1.3 billion. Through April, the funds added $32.4 billion, more than any other fund company and well ahead of The Vanguard Group’s second-place $20.6 billion.
PIMCO Funds was the next largest asset gainer at $1.6 billion, followed by Franklin Templeton and Dodge & Cox, both at $1.1 billion in new flows.
The largest outflow in April was State Street Global Advisors with a loss of $2.4 billion, followed by Janus Capital Group Inc. with $1.8 billion and Putnam Investments with $1.3 billion.