A banner year for investing in stock-based funds
Credit the 401(k) and small investors' broadening access to information and easy trades.
For the year 2000, through November, equity mutual funds amassed a total of $297.4 billion in net new cash flow, breaking the $227 billion record for all of 1997, according to the Washington-based Investment Company Institute (ICI), a mutual-fund-industry trade group.
The first four months of last year's sales spiked with the rush into technology and growth investing, then leveled off after the technology sector's dive began in March. But flows still remained strong through October, before dipping in November, the last month for which figures are available.
(c) Copyright 2001. The Christian Science Publishing Society