Bond funds are all the rage with retail investors, who have reportedly been burned by two market crashes in a decade, according to a Bloomberg News article
Bond funds attracted $559 billion industrywide in the 30-month period ended June 30, reports the news service, citing data from the Investment Company Institute. On the flip side, investors have reportedly pulled $209.4 billion from domestic equity funds and $24.4 billion from funds that buy non-U.S. stocks.
The article cites a couple of beneficiaries of investors' appetite for bonds including Pimco
] and The Vanguard Group
], and says investors' shift to bond funds is putting the heat on other firms such as Janus Capital Group
] and Capital Group
] because bond funds charge about 20 percent less in fees.
The article also mentions: James Kennedy
, chief executive of fund manager T. Rowe Price Group
]; Gregory Johnson
, CEO of Franklin Resources Inc
]; Jim Jessee
, president of the U.S. fund business for MFS Investment Management
]; and John Sweeney
, an executive vice president at Fidelity
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