U.S. Stocks Rise to Record Highs, S&P Closes Above 1800
At the 2013 Lipper Fund Awards, TIAA-CREF and Delaware Management walked off with the top prizes. Jason Kephart reports.
The end of December was a "dud" for flows into equity mutual funds, reports Jeff Tjornehoj of Lipper .
Eight mutual fund companies have been named Best In Group, winning the 2013 Lipper Fund Awards for the U.S., with TIAA-CREF and Delaware Management Company collecting the top group awards.
Lipper has revised its weekly municipal bond fund flows lower for the week ending Nov. 21 after an error with Goldman Sachs led the company to report higher flows.
American Funds had net inflows of $964 million in January, the first month of net inflows since May 2009, according to Lipper Inc .
While commodities specialty funds had a stellar second quarter, precious metals fell more than 35%, according to the research group.
Investors continue to pour dollars into 40 Act products, looking for returns outside of U.S. borders and income from taxable fixed income funds.