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“BOSTON – Investors continue to put more money into stock mutual funds than they’re withdrawing, kicking off 2011 with the fastest start in six years.
April’s $5.6 billion in net deposits marks the fourth consecutive month that new cash has come into U.S. stock funds, industry consultant Strategic Insight said on Wednesday.
The year-to-date total of $42 billion is the biggest start to a year since $65 billion came in during the first four months of 2006.
Investors are cautiously returning to the market after the 2008 financial crisis led many to pull out of stock funds and shift into the relative safety of bonds. One factor driving the rebound in confidence is the near-doubling in the Standard & Poor’s 500 since its March 2009 low. The stock index rose 9 percent through the first four months of this year, and 3 percent in April.
“The post-crisis wariness is starting to fade,” says Avi Nachmany, research director with New York-based Strategic Insight.”
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