June Equity Cash Inflows Top $20 Billion
August 2, 1999
Inflows into equity funds topped $20 billion in June, the largest monthly inflow into these funds in the past year, according to Strategic Insight, a mutual fund research and consulting firm in New York. For the second quarter, equity cash inflows exceeded $51 billion, 76 percent above first quarter results, Strategic Insight also reported.
International funds captured the greatest amount of inflows in June, $6 billion, and equity index funds attracted $3.3 billion in new money.
Bond funds experienced $2.8 billion of inflows and money market funds had $13 billion worth of outflows, the company said.