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Article: INVESTORS' RECENT APPETITE FOR SAFE HAVEN BOOSTS MONEY FUNDS
- Article from:
- The Beacon News - Aurora (IL)
- Article date:
- March 5, 1999
CopyrightCopyright (c) 1999 The Beacon News. (Hide copyright information)
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A security sporting the lowest return in more than four years also is the one investors couldn't seem to get enough of in January.
Money market mutual funds, which now pay an average annualized yield of just 4.44 percent, attracted nearly $61 billion in net new investment in January, data reported last week show.
That sum, and additional inflows in recent weeks, lifted the total assets of money funds to a record $1.43 trillion as of last week, IBC's Money Fund Report said.
To put those numbers in perspective, consider that stock mutual funds attracted a relatively modest $15.7 billion in net new investment in January.
What's more, for every dollar investors now have in stock funds -- ...