Investing March 20, 2002
Q1 Mutual Fund Inflow Hits $60B
March 20, 2002 (PLANSPONSOR.com) - More than $60 billion poured into equity mutual funds during the first quarter of 2002, the largest such figure since the second quarter of 2000.
Reported by Fred Schneyer
That was the estimate in a press release from Strategic Insight (SI), a New York market research firm that provides mutual fund cash flow data.
Strategic Insight attributed the first quarter performance to:
- rising investor and consumer confidence,
- poor bank and money market yields,
- seasonal investments,
- the pace of retirement and 529 plan savings, and
- ongoing shift from individual equities into mutual funds
Strategic Insight said its first-quarter estimate is based on projections of March results, along with January and February data.
During February, SI estimated that open-end equity and balanced fund inflows exceeded $11 billion and bond fund inflows were also over $11 billion.
Money funds experienced modest redemptions, reversing persistent recent inflows by institutional investors.
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