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The Markets June 22, 2008
Mutual Funds Enjoy Positive Inflows in May
U.S. stock, bond, and money-market funds experienced inflows of more than $75 billion in May, according to Strategic Insight.
Reported by Rebecca Moore
Equity fund net inflows totaled an estimated $17 billion in May – about three-quarters of which went to international / global equity funds. Flows into domestic equity funds reflected stock market gains (including a roughly 1% rise in the S&P 500 index over the course of May) and some easing of investor concerns, Strategic Insight said.
Bond fund inflows neared $16 billion in May – approximately two-thirds of which went to taxable bond funds. Tax-free bond funds saw about $5 billion of inflows during the month. Money market funds added about $42 billion.
Strategic Insight said that including projected June flows, mutual funds in the U.S. are on pace to attract over $350 billion in cash flows for the first half of the year.
Strategic Insight can be found online at http://www.sionline.com.