Stock Fund Net Inflow at $10.6 Billion in June
Stock mutual funds saw a net cash inflow of $10.6 billion in June, a smaller amount than many forecasters predicted, according to data reported Monday.
Figures from the Investment Company Institute, the fund industry’s chief trade group, showed the June total was down 42% from May’s inflow. Some forecasters had expected the June inflow to match May’s despite the market’s pullback.
Meanwhile, investors continued to be net buyers of bond funds in June, as taxable and tax-exempt bond funds took in a net $2.9 billion in all. But that was down from $6.2 billion in May.
By contrast, money market mutual funds saw a net outflow of $24.1 billion in June, following an inflow of $35 billion in May.
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