Bond Funds See Huge Spike in Inflows
By Michael Baron
09/14/11 – 04:44 PM EDT
NEW YORK (TheStreet) — Investors were putting money to work in mutual funds again last week, and bonds were the where they were doing it.
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According to the latest data from the Investment Company Institute, long-term mutual funds investing in bonds took in a whopping $4.86 billion in the week ended Sept. 7.
That compares to outflows of $111 million in the previous week.
Overall, the firm estimated positive inflows of $7.31 billion for the week, a pretty big shift following inflows of just $789 million in the prior week, and outflows of $2.35 billion, $554 million, and $40.25 billion in the weeks ended Aug. 24, Aug. 17, and Aug. 10, respectively, as volatility gripped the markets and sent stocks tumbling more than 10% from their 2011 highs.