U.S. stock fund inflows strongest since May 2009
U.S. stock fund inflows strongest since May 2009 (by Jonathan Burton)
SAN FRANCISCO (MarketWatch) -- Investors bought U.S. stock mutual funds at the strongest pace in almost two years, according to data released Wednesday from the Investment Company Institute, a fund-industry trade group. An estimated $4.9 billion flowed into domestic stock funds in the five trading days through Feb. 9, the highest weekly total since a net $5.7 billion poured in during the week ending May 13, 2009. Interest in international stock funds was anemic, with the group receiving $928 million in new money versus inflow of $346 million a week earlier. U.S. municipal bond funds continued to see an exodus, with a net outflow of $1.5 billion in the period, in line with the prior week's $1.2 billion outflow. Taxable bond funds saw $3 billion in net inflow, a sharp increase over the prior week's $1.8 billion take.