BOSTON — Investors shook off some of their caution in this year’s second quarter amid a rising market, shifting the largest amount into stock and bond mutual funds in more than two years, a fund industry consultant reported Tuesday.
A total $136 billion flowed into stock and bond funds during the April-through-June period, according to New York-based Strategic Insight.
That’s the biggest flow since the first quarter of 2007, when the total was nearly $150 billion. The totals exclude money-market mutual funds and exchange-traded funds.
In the latest quarter, bond funds were the bright spot for the nearly $11 trillion U.S. mutual fund industry. About two-thirds of the cash flowing in went to bond funds, with the remaining third going to stock funds, which are generally riskier than bond funds.
Investors put more money into stock funds than they took out for all three months of the recent quarter as the Standard &Poor’s 500 index rose more than 15 percent.
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