Investors poured money into equity mutual funds, including exchange traded funds, in April in a reversal from the previous month, when those funds experienced net outflows, according to a report released yesterday by Financial Research Corp. of Boston.
Investors poured money into equity mutual funds, including exchange traded funds, in April in a reversal from the previous month, when those funds experienced net outflows, according to a report released yesterday by Financial Research Corp. of Boston.
Domestic and global equity funds, and ETFs, posted net inflows of $8.5 billion and $6.9 billion, respectively.
In March, domestic equity funds had net outflows of $18.8 billion, and international/global stock funds had outflows of $13.7 billion, FRC reported.
Corporate-bond funds led the objective category, with the largest net inflow at $16.6 billion in April.
At the same time, international fixed-income funds had the largest net outflows at $447 million.
The Pimco Total Return Fund (PTTAX), offered by Pacific Investment Management Co. LLC of Newport Beach, Calif., was the best-selling fund for the month of April, posting $3.8 billion in net inflows, the report found.
Year-to-date through April 30, the $150 billion fund had $14.5 billion in net inflows.
Year-to-date through April 30, the $18.7 billion Vanguard Total Bond Market II fund (VTBIX), offered by The Vanguard Group Inc. of Malvern, Pa., was the best-selling fund, with net inflows of $18.6 billion, the report said.
The fund posted $2.3 billion in net inflows for the month of April.
