Investors poured vast amounts of money into mutual funds this past quarter, setting new monthly records in January and February.
In January 2000, net new cash flow into stock funds was $40.9 billion, up from $17.2 billion in January 1999. In February 2000, investors pumped $53.6 billion into equity funds, compared with just $0.8 billion in February 1999.
Total assets in all mutual funds now tops $7 trillion, according to the Investment Company Institute in Washington.
(c) Copyright 2000. The Christian Science Publishing Society