Investors pour record $55 billion into U.S. stock funds in January
NEW YORK (Reuters) - Investors poured $55 billion in new cash into stock mutual funds and exchange-traded funds in January, the biggest monthly inflow on record, research provider TrimTabs Investment Research said.
U.S. stock mutual funds and ETFs accounted for $25.2 billion of the total cash gains, the most since January 2004. Global mutual funds and ETFs overtook them with inflows of $29.8 billion, a monthly record according to the research company.
The total inflows into stock funds surpassed the previous record of $53.7 billion in February 2000, TrimTabs said.
The benchmark S&P 500 stock index has risen 5.4 percent so far this month. Analysts have cited this month's strong inflows as a support to stock markets, along with stronger-than-expected corporate earnings and U.S. lawmakers' deal to avert the "fiscal cliff" of tax hikes and spending cuts.
According to Thomson Reuters' Lipper service, which tracks only funds that are based in the U.S., the three weeks ended January 23 have seen the biggest inflows from retail investors into stock funds since the start of 2001. The latest three-week streak has brought $14.9 billion into stock mutual funds alone, while the streak ended in early 2001 brought $16.3 billion into the funds.
Investors gave $6.1 billion to U.S. stock mutual funds and ETFs in the past five trading days alone, TrimTabs reported. Global funds, meanwhile, pulled in $9.3 billion over that period.
(Reporting by Sam Forgione; Editing by Kenneth Barry)
- Tweet this
- Share this
- Digg this
- U.S. strikes have slowed Iraq militants but not weakened them - Pentagon
- CBI drops coal scam case against Kumar Mangalam Birla
- India's growth speeds up in after-glow of Modi's triumph
- Exclusive: Reliance plans $13 billion projects including new refinery
- Saudi king warns of terrorism threat to U.S., Europe
The Central Bureau of Investigation (CBI) has closed a coal scam case against billionaire Kumar Mangalam Birla and a former top bureaucrat that emerged in 2012 after an auditor's report on revenue loss to the exchequer from allocations of coal blocks. Full Article
Exclusive: Reliance plans $13 billion projects including new refinery. Full Article
In race for bigger margins, drug makers willing to lose the India "advantage". Full Article