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Thursday, March 4, 2010

Happy 50th, Fund Flows

by: Daniel Tovrov

Long-term mutual fund are celebrating their 50th -- week of consecutive inflows, that is. The Wall Street Journal's Fund Track picked up on the milestone Thursday, noting figures from the Investment Company Institute (ICI).

The run started in early March, when the stock market was approaching its bottom. Total inflows during the streak total around $487 billion, with an estimated $10.97 billion coming in the week that ended February 24.

Bond funds accounted for a large majority of the gains, taking in $7.89 billion in the latest week, and $4.05 billion the week before. Stock funds, on the other hand, saw inflows of $1.97 billion and $1.11 billion during the same time periods. Mixed funds, which can invest in both equities and fixed income, added $1.12 billion in the week ended Feb. 24, and $522 million the week prior.

Money-market funds, however, are continuing their decline, dropping by $29.82 billion to about $3.1 trillion, as of Tuesday. The Journal cites IMoneyNet for the money-market numbers. 

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