Most of the few mutual fund buyers who purchased equity funds in April went into index products in April. Just released data from fund researcher FRC shows that Vanguard Total Stock Index and Vanguard EM Stock were three and four in the April sales charts as measured by net flows. Bond funds Pimco Total Return and Templeton Global Bond were the number one and two sellers.

The only other equity fund to crack the top ten chart in net flows is not a household: The Fairholme Fund ranked in the number 10 position with $872 million in net flows.

Other funds in the top 10 included two funds from the large asset managers -- BlackRock Global Allocation (no. 6), Vanguard Total Bond II (no. 7) -- and two ETF products -- SPDR Gold Shares (no. 8) and Powershares QQQ Trust (no. 9).  

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