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.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
