Hate to say I told you so…
The latest inflow data from ICI confirms what anyone client-facing on Wall Street could have told you was on the way months ago…the tsunami from fixed income and cash to equity mutual funds/ETFs.
From the Wall Street Journal:
Equity funds had net inflows of $5.85 billion, compared with $1.76 billion a week earlier. U.S. and foreign equities funds added $4.92 billion and $928 million, respectively.
…but they haven’t abandoned bond funds entirely as fixed income flows are still stubbornly trickling in. Manager flexibility is still very much on the minds of investors, apparently…
Investors added a net $1.89 billion into hybrid funds, up from $1.66 billion a week earlier. Such funds can invest in both stocks and fixed-income assets.