BOSTON (AP) — The so-called "fiscal cliff" agreement apparently helped boost investor confidence: The flow of cash into stock mutual funds during the first week of 2013 was the largest in more than 11 years.
Mutual funds investing in U.S. stocks attracted $4 billion in net deposits during the weeklong period that ended Wednesday, and funds investing primarily in foreign stocks took in about $3.5 billion, according to preliminary data from Lipper, a unit of Thomson Reuters.
The $7.5 billion total into stock funds was the largest since the week ending May 2, 2001. It marked a shift in sentiment from last year, when investors consistently withdrew more cash from stock mutual funds than they added to them.
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