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Fund Investors Turned Prudent in December, Flows Show
Whether they're losing patience or gaining prudence, fund investors are cooling to cratering growth funds and warming to bonds and tamer stock funds.
In December, the two top-selling funds were the no-load (VBMFX Quote)Vanguard Total Bond Market Index and (VTSMX Quote)Vanguard Total Stock Market Index funds, according to data released by Boston fund consultancy Financial Research (FRC). For much of last year and 1999 most fund investors plowed their money into tech-heavy growth funds, but many of these funds followed tech stocks south. Rather than stop investing in funds, they're putting their money in less risky funds after a year when the S&P 500 lost 9.1% and the tech-laden Nasdaq Composite lost nearly 40%. ...
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