BOSTON (AP) — The flow of cash into mutual funds is at a record high for the first quarter.
Stock funds and bond funds attracted a combined $193 billion in the first three months of 2012, industry consultant Strategic Insight said on Wednesday. That tops the previous record of $140 billion in net deposits during the first quarter of 2007.
It is also a record when flows for exchange-traded funds are factored in. Total flows to conventional mutual funds and ETFs were $246 billion. The previous record was set in last year's first quarter, when the total flow to mutual funds and ETFs was $173 billion.
This year's figures suggest that investors are getting comfortable with stocks again following the financial meltdown and market plunge of 2008-2009.