Aug. 28, 2002 — Faced with continuing market volatility, investors bailed out of stock funds and put money into bond and money funds last month.
Domestic stock funds saw outflows of $41.6 billion, while domestic bond funds netted $22.9 billion, and money market funds took in $49.6 billion in July, Financial Research Corp., a financial services consulting company, reported.
Stock and bond funds suffered an estimated $21.3 billion in net redemptions, according to FRC. The firm said the net outflows were the largest for any single month since it began tracking monthly fund sales in 1993.
