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Monday, August 30, 2010

Investors Open Flood Gates into Bond Funds

News summary by MFWire's editors

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 [see profile] and The Vanguard Group [see profile], and says investors' shift to bond funds is putting the heat on other firms such as Janus Capital Group [see profile] and Capital Group [see profile] 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 [see profile]; Gregory Johnson, CEO of Franklin Resources Inc [see profile]; Jim Jessee, president of the U.S. fund business for MFS Investment Management [see profile]; and John Sweeney, an executive vice president at Fidelity [see profile].  

Edited by: Hung Tran


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