Stock mutual funds attracted just $4.8 billion in new money in May, significantly less than the $12.9 billion in net inflows reported the previous month, ICI’s mutual fund survey data show.
Bond funds pulled in $10.6 billion over the month, compared to an April inflow of $7.8 billion, while hybrid funds reported a $1.5 billion inflow and money market funds leaked $4.1 billion.
Of the equity fund inflows, domestic stock funds attracted $2.85 billion, down substantially from $12.3 billion the previous month, while international stock funds drew $2 billion in new money over the period. The overseas funds figure was up from a $667 million April inflow.
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