Fund companies had something to cheer about in February despite the roller coaster the stock market was on. According to FRC
data, inflows resumed in the month of February.
In January net $22.94 billion flowed out of funds. Net flows for February of 2008 for the top 20 fund complexes hit $17.06 billion for the month. However numbers are nowhere near February of 2007's $47.37 billion in inflows.
The top three companies in terms of inflows were: Vanguard
, with $7.82 billion in inflows, American
with $5.29 billion in inflows and surprise entry Proshares with $3.96 billion in inflows. In the whole of 2007, ProShares only garnered $744 million in inflows.
FRC does not include money market fund flows in its numbers.
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