Stock Funds See Inflows for the First Time in 6 Weeks
Equity mutual funds recorded net inflows last week for the first time since early February, reported Lipper.
Equity funds had $3.9 billion in net inflows for the week ending April 1, according to Lipper. The week prior, equity funds had $27.1 billion in net outflows, marking the sixth straight week of declines. Excluding ETFs, equities posted $6.5 billion in net inflows, with $6.3 billion from domestic funds. The big winner was money market funds, which took in nearly $164 billion of net new money. This follows the prior week's record-setting haul of about $260 billion in net inflows.
While investors have been flocking to the safety of money market funds in record numbers, the equity inflows are a positive sign that investor sentiment may be improving on stimulus and relief measures and news that the coronavirus curve may be flattening in some places.
Source Fool.com
