Pace of Mutual Fund Investment Slowing Down

Investors poured $36.9 billion into stock and bond mutual funds in January, just under December’s dramatic $38.8-billion pace, the Investment Company Institute reported Thursday.

But purchases in February have slowed somewhat, many fund companies said. Though still strong, purchases this month appear to have been restrained by investor concerns about President Clinton’s economic proposals.

Net new cash flow into bond funds was $10.5 billion in January, up sharply from $4.9 billion in December. Stock funds’ net new cash flow was $10.2 billion in January, compared to $9.3 billion in December.