Mutual funds report $75 billion of inflows

Investors put more than $75 billion into mutual funds in May, as stock, bond and money market funds reported positive inflows, according to data from Strategic Insight Mutual Fund Research and Consulting LLC of New York. Equity fund net inflows were an estimated $17 billion in May, of which $13.3 billion went into international and global equity funds. Nearly $16 billion was poured into bond funds in May. About $10.5 billion of the flows went into taxable bond funds, while $5.7 billion went into tax-free bond funds. Money market funds added about $42.3 billion, reversing the seasonal outflow they experienced over the previous month. “The economic outlook and credit conditions remain uncertain. But mutual fund investors continue to invest in a wide range of mutual fund vehicles, from cash management ones to those designed for global asset allocation, and remain committed to long-term investing,” Avi Nachmany, Strategic Insight’s director of research, said in a statement. Mutual funds in the United States are on pace to attract more than $350 billion in cash flows during the first half of the year.