Stock funds last saw inflows of this magnitude when the US economy teetered on the brink of recession in April 2000, when some $33.77 billion in new money flooded the equity fund market as the major market indices rebounded.
The flow into equity funds came at the expense of money market funds, which saw a net outflow of $38.1 billion. On the fixed income side, bond funds attracted a rather muted net $5.4 billion in March.
According to Lipper’s data, which is prepared using data provided by fund companies, over the month:
- diversified value funds pulled in around $13.9 billion net
- Standard & Poor’s 500 Index funds attracted about $2.7 billion
- balanced funds had inflows of $2.4 billion.
Value funds took in a net $13.9 billion in March, while
inflows offset outflows in the growth fund category,
resulting in a zero net inflows.