Fiscal cliff deal fuels surge into stock funds

Published on NewsOK Modified: January 11, 2013 at 4:51 pm •  Published: January 11, 2013

A mildly positive monthly jobs report released Jan. 4 also may have encouraged investment in stocks during the latest week, Roseen said. That day, the Standard & Poor's 500 stock index closed at its highest level in five years.

Investors deposited a net $34.2 billion into U.S. funds of all types during the week, including mutual funds and ETFs investing in bonds, as well as money-market funds.

The fund flow data released Thursday night are preliminary, based on flows for about 75 percent of mutual funds and ETFs, according to Lipper. The Investment Company Institute, an industry trade organization, is scheduled to release more complete data on Wednesday that will cover flows through the week ended Jan. 9.

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