As evidenced by profits Wall Street banks and trading forms have been logging, the professional investor has clearly returned to the markets. Now, we are seeing more evidence that individuals are as well.
T. Rowe Price reported second quarter earnings today and as part of that announcement, it said it has seen net inflows of $4.1 billion into its mutual funds in the quarter. About $1.9 billion of the inflows went into U.S. stock and blended asset funds. Bond and money market funds saw $1.3 billion of new money coming in. About $900 million came in to international stock funds.
That follows a similar trend that Amerprise Financial saw in its second quarter, reported late yesterday. Ameriprise said it had $2.8 billion net inflows in its wrap account business in the quarter. And it had $1.1 billion of inflows into its annuity business.
No wonder people are getting back in, given how the market has performed since it hit lows in March.
Dow Jones Industrial Average Since March 1
