WHERE THE MONEY WENT

Physician's Money Digest, April15 2003, Volume 10, Issue 7

Answer:

A feeble stock market has contributedto sustained outflows ofmoney from stock mutual funds.According to Lipper Inc, investorspulled $5 billion from their stockfunds in December 2002, leading toan overall net outflow of more than$10 billion for the year. Stock fundshad net withdrawals in 6 of the past 7months of the year. Money marketfunds, with their puny returns, hadalmost $50 billion in net outflows forthe year. Where did that money go? to bond funds, which posteda record $130 billion in new moneyin 2002, beating the previous high of$120 million in 1986.