Fund flows surpass $34B in May

Stock and bond funds had net inflows of $34.6 billion last month, up from $24.7 billion in April, according to FRC.
JUN 25, 2008
Stock and bond funds had net inflows of $34.6 billion last month, up from $24.7 billion in April, according to a report released Tuesday by Financial Research Corp. International/global funds led the way, with net inflows of $14.7 billion, followed by corporate funds, with inflows of $8.2 billion. The Pimco Total Return Fund, which is advised by Pacific Investment Management Co. LLC in Newport Beach, Calif., attracted $2.1 billion of net inflows to lead the fund sales charts. Among the categories tracked by Morningstar Inc. of Chicago, intermediate-term-bond funds had net inflows of $5.98 billion. Specialty-natural resources and world allocation funds rounded out the top three, with net inflows of $3.9 and $3.6 billion respectively. American Funds Investment Co. of Los Angeles led all companies, with $1.14 billion in new assets. The Vanguard Group Inc. of Malvern, Pa. and Fidelity Investments of Boston rounded out the top three companies, with $1.11 billion and $903 million in new assets, respectively. Boston-based FRC’s data include exchange traded funds in the universe of mutual funds.

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